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G20 Makes Pittsburgh Look Good

The big news from the G20. iwasaround/Flickr Creative Commons hide caption

itoggle caption iwasaround/Flickr Creative Commons

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On today's Planet Money:

Rich nations and developing ones in the G20 got together in Pittsburgh this week to discuss the fate of the world. Also, how to fix it.

Among the key issues was how to give emerging markets a meaningful seat at the table. For starters, the G20 will now replace the G8, which includes only leading nations. David Gordon, head of research at Eurasia Group, says that's a start, a small one.

Meanwhile, NPR's Scott Horsley ventured out past the protesters in search of an alternative G20 scene.

A link from the podcast: The Fed's Job Is Only Half Over

Bonus: Comment of the week, after the jump.

Download the podcast; or subscribe. Intro music: The Undertones' "Top Twenty." Find us: Twitter/ Facebook/ Flickr.

The Planet Money crew will be on This American Life over the weekend. As part of our one-year anniversary, we're taking a look back at some of the people in our original Giant Pool of Money episode to see how the economic crisis has changed their lives.

Among them is "subprime guy" Glen Pizzolorusso, who blogged this week about how he lost everything and found a new definition of success.

Some of wrote back to say that Pizzolorusso didn't sound all that sorry about what his role in the mortgage catastrophe. And then there was Dee Whitten, who wins the prize for comment of the week with:

I was in the business and the borrowers who let this happen were the ones who were conducting the "Fraud" most of the time. We had the subprime products but they were the ones who wanted that house so badly that they botched their own documents to make it seem like they had more money....have you ever seen doctored bank statements? or doctored w2's...I bet you have, because they're everywhere.

Was it the banks fault yes and I agree with you there and respect your opinions. We had the product; the 2 year [adjustable rate mortgage] that started to adjust in the third year that most had a problem with. On paper they qualified and the loan officers or "brokers" sent us, the wholesale companies all the documents for us to verify.

It's not all the bank's fault and you have to see that side of it too.

Because seriously, people, throughout this premiere year, you've proved every day that Planet Money is a place where a mortgage broker can say he's been humbled, a preacher can talk about atonement, and another mortgage insider can stand up for the first guy. Thank you, one and all.

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