Chana Joffe-Walt

10,000 Brainiacs in Haiti

chanajw — Mon, 31 May 2010 15:30:20 +0000

Unprecedented amounts of money have been pledged to Haitian relief in the last few months. American households have given over $1 billion and in March, 120 countries pledged over $9 billion(!) to rebuild. The only problem is that – historically – blanketing a country in aid and money has never really worked so well. We follow one Haitian farmer, with the modest crop of two mango trees, through a byzantine system of aid agencies, NGOs, and government bureaucracy as the farmer tries the impossible — to get some plastic milk crates to store and transport her mangoes. Listen here.

Why Greece is in a Debt Crisis

chanajw — Mon, 31 May 2010 15:00:46 +0000

After Greece joined the European Union, its government started borrowing money and spending lavishly. It nearly defaulted on its debts and needed a massive bailout. The Greek debt crisis unfolded, not just in Athens, but at a bond trading desk in Newport Beach, California. Listen here.

We Bought a Toxic Asset; You Can Watch It Die

chanajw — Mon, 31 May 2010 14:00:14 +0000

Toxic assets — home mortgages packaged into complicated bonds that no one wanted to touch when the housing bubble collapsed — are starting to trade again. We wanted to figure out how this chapter of financial history will end. So we decided to buy a toxic asset of our own. You can here the story here and the longer podcast version here. Here you can find a graphic of our new pet.

Soon after we bought her, we found out that our toxic asset has a large and troubled family. The Federal Reserve bought her younger sister and a lot of other weird stuff while trying to save the banking system. The carpenters of NJ and the Boilermakers of America bought another sibling during the height of the boom and now they are suing their toxic asset.

We are tracking our toxic asset’s progress here. So far it’s not going well.

A Failed Bank: One Year Later

chanajw — Mon, 31 May 2010 13:00:06 +0000

One year ago this week, we brought you the story of a bank failure. The Bank of Clark County was a small bank in southwest Washington state. One Friday, in what has become a weekly ritual of the Great Recession, the FDIC stepped in to take it over. We told you about the banker who lost his job. The federal agent who ran the takeover. So what has happened to these people, and the bank’s assets, since then? Listen here or find the longer podcast version here.

Where Were the Watchmen?

chanajw — Mon, 31 May 2010 12:00:46 +0000

Since Congress hasn’t held 1930’s-style hearings into the causes of the financial crisis, we stage one of our own. The subject? The regulators and watchdogs who were supposed to be overseeing the banks and the finance industry—to make sure things wouldn’t blow up like they have. Clearly something went wrong. Today we pound a gavel and ask: where were the watchmen? Listen here.

Health Overhaul May Cure Pre-Existing Conditions

chanajw — Sun, 30 May 2010 17:00:59 +0000

One part of the health care overhaul bill does seem to have broad support. It would change the individual insurance market — that’s where people buy insurance on their own, rather than through an employer. Under the measure, insurance companies would not be allowed to deny you coverage based on pre-existing medical conditions. Listen here.

Why MRIs Are So Much Cheaper in Japan

chanajw — Sun, 30 May 2010 14:46:40 +0000

Prices for MRIs are much cheaper in Japan than in the U.S. The difference in prices provides some insight into why health care costs are so high in the U.S. There’s something else at work, too. MRIs are very popular in Japan: Some people get them every year even if they aren’t sick. Listen here.

Price Disparities Common In Health Care System

chanajw — Sun, 30 May 2010 14:44:54 +0000

Prices for identical goods and services are usually the same or very close at competing businesses. That’s not the case when it comes to health care — not by a long shot. For example, in Pensacola, Fla., there are huge price disparities for MRI tests. It’s not a matter of greed or poor decision-making by MRI providers or a lack of consumer awareness. For better or worse, it’s the way our insurance-based health care system works. Listen here.

One Pill Two Pill, Red Pill Blue Pill

chanajw — Sun, 30 May 2010 14:18:40 +0000

Planet Money and This American Life’s show on health insurance companies including why prescription drug coupons could actually be increasing how much we pay, and prevent us from even telling how much drugs cost. (13 1/2 minutes). Listen here.

Economists: ‘Cadillac Tax’ May Mean Higher Wages

chanajw — Mon, 03 May 2010 14:45:36 +0000

One of the biggest sticking points with the plan to overhaul health care has been how to pay for it. The Senate wants to impose a so-called “Cadillac Tax.” That is, a tax on the most expensive health care plans. Economists say in the long run the tax would result in companies offering less expensive health plans. The money the company saves would then translate into higher wages. Listen here.