I love talk radio. I love podcasts. One of my favorite radio programs – which is also available as a podcast – is This American Life. This past Sunday’s episode, entitled The Watchmen, provides the clearest explanation of the current credit crisis, what it is, and how regulators failed to regulate it, that I have heard. I strongly recommend that you visit the This American Life site and stream or download the program. You can listen to it on your computer, or download it and put it on your mp3 player. Many of the interviews for the program were conducted by Chana Joffe-Walt and Dave Kestenbaum from NPR’s Planet Money. Regardless of your political affiliation, I think you will find the podcast to be informative, entertaining, and enlightening. After listening to it, I sat quietly for fifteen minutes in my car, contemplating the reality of a tragically flawed regulatory system. Give it a listen, and let me know what you think.