Hear: World's Not Feeling Great

NPR | By Laura Conaway

Published October 23, 2008 at 2:16 PM PDT

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Today on Planet Money:

Former Federal Reserve Chairman Alan Greenspan tells Congress he was shocked to discover a flaw in the markets. The TED spread stopped falling. And one investor lost a whole lot of money.

-- Listener Aimee Ennis asks if it's true that hedge funds are the next great calamity. That's what Nouriel Roubini has been saying.

-- Economist Elisa Parisi, of Roubini's RGE Monitor, explains that hedge funds are downright contagious.

-- Ian Bremmer of Eurasia Group reveals the world's troubles were a long time coming.

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