Rachel Maddow Explains Why We Are All Screwed

Rachel Maddow appeared on David Letterman's show last night and, when asked to explain what exactly is fucked up about our economy, the housing crisis, and the AIG bonuses, did so in under 5 minutes.

That is, of course, much shorter than the time it took Barack Obama or Treasury Secretary Tim Geithner to explain why they knew about the bonuses and had hoped no one would notice but, now that we have, they're totally going to raise a huge stink about it before capitulating as they had previously done when they thought we weren't looking.

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Erin Gloria Ryan

Rachel did a good job. Why isn't she running things? Oh, yeah, I forgot. Because she's a lezz-bee-inn.

The best explanation that I've heard RE the mortgage crisis:


There's another episode about the credit default swap market and how it went bananas when that money market fund broke the buck. Both are highly recommended.