So do you understand what “mark to market” or “toxic assets” mean? This week’s episode of This American Life provides a basic overview of banking and how the U.S. and world economies arrived to where they are now.

Some of the provided statistics:

Bank of America and Citigroup have 25% of U.S. deposits and are they are not doing, supposedly, so hot.
The top 20 largest banks have 90% of U.S. deposits.
Household debt to GDP has been 30-50% until the 1980s.
It reached 100% (i.e. Americans owe more than the entire economy produces.) in 2007.
When was the last time it was that high? 1929.

Listen to or download it (free download until the next episode is posted).
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