Last Sunday I listened to the episode titled: "Inside Job." Here is part of their web page on it:
Originally aired 04.09.2010For seven months a team of investigative journalists from ProPublica looked into a story for us, the inside story of one company that made hundreds of millions of dollars for itself while worsening the financial crisis for the rest of us. It includes our original Broadway song "Bet Against the American Dream": MP3; video; sheet music.
Prologue.Ira talks about a friend who for years had a very trusted business partner and bookkeeper, until one day when he ran away with all of her money. (1 1/2 minutes)
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. Jake and Jesse pored through thousands of pages of documents and interviewed dozens of Wall Street Insiders. We bring you the result: a tale of intrigue and questionable behavior, which parallels quite closely the plot of a Mel Brooks musical.here.
This is an interesting story. The theory was posed that the predator (in this case Magnetar) is just doing what predators do. Can't blame them. True enough I think.
If you're wondering these days how Wall Street really works, listening to the Inside Job will give you some good ideas and maybe even help connect some dots regarding current Wall Street events like the SEC suing Goldman Sachs.