Overview of Interest Rates, Subprime Haiku

The Bloomberg on the Economy podcast is easily one of the best shows out there. A recent show with former president of the Dallas Fed Robert McTeer is one of many gems.

McTeer talks about the current rate environment that affects your savings and loan rates, how we got here, and he throws in a little color. First, there's a subprime haiku, and he recites his Cycle of Debt poem:

My house is underwater, for sure
My car is upside down, you bet
But I'm getting me a consolidation loan to finally get out of debt

Nothing better than banking poetry... You can link directly to the show (MP3 File) or find out more about the Bloomberg on the Economy podcast.

Further reading:

• Subprime Definition
• How Debt Consolidation Programs Work
• Upside-Down Car Loans