The Current Financial Meltdown Explained

Trying to understand the basis of the current economic crisis seems almost impossible. It seems so esoteric and convoluted that there seems to be no good explanations in the mainstream press. The people who should be helping us by explaining what happened haven't been doing a very good job.

So let me point you to Shocking Fraud from Financial Scum from Good Math, Bad Math. It turns out the best explanation I've come across is from a science blogger.

An earlier and just as useful explanation of the sub-prime mortgage mess comes from two comedians - John Bird and John Fortune. Here's a video explaining the Subprime Banking Mess. What's amazing is that the reason they propose for why a bailout is necessary was not actually used. I almost expected politicians to use it to explain the need to spend billions on people and companies that created the crisis that stole billions.