This American Life Podcast

A special program about the housing crisis produced in a special collaboration with NPR News. We explain it all to you. What does the housing crisis have to do with the turmoil on Wall Street? Why did banks make half-million dollar loans to people without jobs or income? And why is everyone talking so much about the 1930s?

HowStuffWorks Podcast

The 2008 US financial crisis has been blamed on the excessive use of mortgage-backed securities. But what exactly is a mortgage-backed security? Learn more about these securities and how they contributed to the crisis in the crisis in this HowStuffWorks podcast.


Federal Reserve Bank of New York, "Agency Mortgage Backed Security Purchases". April 6, 2010 <>.

Gagnon, Josesph and Matthew Raskin, Julie, Remache, Brian Sack. "Large-Scale Asset Purchases by the Federal Reserve: Did They Work?". Federal Reserve Bank of New York Staff Reports, No. 441. March 2010.< reports/mbs_factsheet_090708hp1128.pdf>

The Markets Group of the Federal Reserve Bank of New York, "Domestic Open Market Operations During 2009". A Report Prepared for the Federal Open Markets Committee January 2010.

Federal Reserve Bank of New York, "FAQs: MBS Purchase Program". February 17, 2010. <>

"Stop the Money Presses: Fed MBS Purchase Program". March 31, 2010.<>

Glink, Ilyce. "Mortgage Backed Securities Purchase Program: Is $1.25 Trillion Enough?". CBS Money February 2010.

Adrian, Tobias, and Hyun Song Shin. "The Shadow Banking System: Implications for Financial Regulation." Federal Reserve Bank of New York Staff Reports 1.382 (2009): 16. Print.

Gorton, Gary. "The Subprime Panic." European Financial Management 1 (2008): 38. Print.

Frame, Scott, and Lawrence White. “Fussing and Fuming over Fannie and Freddie.”  Journal of Economic Perspective 19 (2005): 154-84. Web. 1 Mar 2010 

Balin, Bryan. “Basel 1, Basel 2 and emerging Markets.” John Hopkins School of advances international studies (2008). Web. 1 Mar. 2010.

Agency Mortgage-Backed Securities Purchase Program Purchases Archives from the Federal Reserve Bank of New York