What is Really Going On, and does it matter?

I have been trying to follow the financial news, but I have been rather confused by the impact of it all outside of the banking sphere (which is relevant, in some ways, to my day to day life, as my husband works in New York and has banks as his clients).

I wish that the media would do more to educate us. I don’t think that the campaigns should be suspended, but I sort of wish that the 24 hour news coverage of the campaigns would be. I also wish that TV news was not so entertainment and ratings driven, so that they could focus on actual issues affecting our nation.

This morning my husband sent me this essay, from the New York Times, which I found very helpful.

http://www.nytimes.com/2008/10/01/business/economy/01leonhardt.html?_r=1&scp=1&sq=lessons%20from%20a%20crisis&st=cse&oref=slogin