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Act Three: Job Fairies

For a look at the nuts and bolts of government job creation, This American Life Senior Producer Julie Snyder and Planet Money correspondent Adam Davidson attend a meeting of the International Economic Developers Council in San Diego.

Prologue

Ira Glass speaks with several members of the Planet Money team, who all found themselves—in the course of their reporting—independently asking the same stoner-ish question: What is money? Ira and Planet Money producer Jacob Goldstein discuss a pre-industrial society on the island of Yap that used giant stones as currency. The book that Jacob read about Yap is called The Island of Stone Money.

Act One: The Lie That Saved Brazil

A trip to a country where the fiction that is money completely fell apart. And in this same country, through a truly incredible piece of policy making, the government tricked a 150,000,000 people into believing their money had value again.

Act Two: Weekend At Bernanke's

Though the name of the Federal Reserve includes the word "federal," it's not actually part of the government. It's an independent institution tasked with something very simple, but very huge: Creating money out of thin air.

Prologue

Host Ira Glass explains how the Planet Money team spent a thousand dollars of their own money to buy a toxic asset, and introduces Planet Money reporters David Kestenbaum and Chana Joffe-Walt. Their stories about "Toxie" have appeared on the Planet Money podcast and daily public radio news shows, and are collected here for the first time, into one epic, Dickensian tale.

Act One: Fire Sale in Kansas City

David and Chana buy a toxic asset, from a guy named Wit Solberg, who used to work on Wall Street and now helps small banks who've been saddled with toxic assets. Turns out...it's hard to buy a toxic asset.

Act Four: Villains And How To Sue Them

David and Chana meet another toxic asset owner, like themselves. Only difference, David and Chana bought theirs after it was already toxic, for a steep discount, 99% off.

Act One: Wall Street: Money Never Weeps

Ira with Planet Money economics correspondent Adam Davidson on why—even after everything President Obama has done to save Wall Street, actions which have led to record profits and bonuses—Wall Street seems ungrateful. Adam and producer Jane Feltes head out to a Wall Street bar where they're told by three finance guys that there's no reason to thank the President for saving their jobs. Planet Money is a co-production of This American Life and NPR News.

Act One: Mister Fix It

Richard Ravitch has helped fix three governmental crises, including when New York City nearly went bankrupt in 1975. What's changed, to make it so much harder for him to solve the state's current financial crisis? Host Ira Glass reports.

Act Two: If You Were Stranded on a Desert Island and Could Only Bring One Economic Plan...

Why is it that Barbados and Jamaica faced almost identical financial crises, but now Jamaica is incredibly poor and Barbados is prospering? Alex Blumberg reports on the surprising strategy Barbados used to survive its crisis. Alex first learned about this story from a paper by Peter Blair Henry, the dean of the Stern School of Business at New York University.

Act One: Eat My Shorts

A hedge fund named Magnetar comes up with an elaborate plan to make money. It sponsors the creation of complicated and ultimately toxic financial securities...while at the same time betting against the very securities it helped create. Planet Money's Alex Blumberg teams up with two investigative reporters from ProPublica, Jake Bernstein and Jesse Eisinger, to tell the story.

Prologue

Former Bush Administration official David Frum explains a very surprising fact about Bush's economic failure, as it relates to health care. Frum is a regular contributor to the radio show Marketplace.

Prologue

Host Ira Glass talks with NPR correspondent Adam Davidson about a black tie event he attended in the spring of 2008. The event was an awards dinner for finance professionals who created the mortgage-based financial instruments that nearly brought down the global economic system.

Act One: Spring 2008

We replay sections from the original "Giant Pool of Money," in which This American Life producer Alex Blumberg teams up with NPR's Adam Davidson to tell the story of how the U.S. got itself into a housing crisis. They talk to people who were actually working in the housing, banking, finance and mortgage industries, about what they thought during the boom times, and why the bust happened.

Act Two: Fall 2009

We catch back up with the people we met in 2008, to see how they've fared over the last 18 months. We talk to Clarence Nathan, who in 2008 received a half million dollar loan that he said he wouldn't have given himself; Jim Finkel, a Wall Street finance guy, who put together and managed complicated mortgage-based financial securities; Richard Campbell, the Marine who was facing foreclosure; and Glen Pizzolorusso, the mortgage company sales manager who led the life of a b-list celebrity.