How a New Type of Money Helped Cause the Great Financial Crisis

(Bloomberg) -- Subscribe to Odd Lots (Spotify) 
Subscribe to Odd Lots (Apple Podcasts)

Every week, hosts Joe Weisenthal and Tracy Alloway take you on a not-so-random walk through hot topics in markets, finance, and economics.

It's fun to talk about what money is, but often it's hard to connect the dots and make it actually relevant to the discussion of the economy and markets. But, in this episode, we do just that. Our guest is Jacob Goldstein, a co-host of Planet Money and the author of the new book, “Money: The True Story Of A Made-Up Thing”. He explains the story of money market mutual funds, how they constituted a new form of money, and how they contributed to the Great Financial Crisis.  

©2020 Bloomberg L.P.