What Is Deleveraging?

By Laura Conaway

Published October 20, 2008 at 5:28 PM EDT

Today on Planet Money:

The credit market thaws, a bit, and Federal Reserve Chairman Ben Bernanke tells Congress it's time to talk stimulus.

-- Tom Corona and Will Aston-Reese reveal the secrets of the money trade.

-- Listener Kelly Mosier asks where the money went.

-- Economist Satyajit Das tells us it went away as part of deleveraging, and then explains that.

-- A postal carrier in Seattle sees the economic crisis in the mail, reports Chana Joffe-Walt.

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