What the writer is NOT telling us, because he probably has a vested interest, is that this could easily have been prevented by government regulations. The same regulations the GWB white house said were not needed, the same regulations Obama ran on, saying he would institute. He didn't do it GWB didn't do because the wll street and big money boys bought the off!!! Oh he** yes, we NEED a viable THIRD PARTY!!

nice simple explanation BUT doesn't seem to add up for me "hundreds of thousands of houses for sale" even for a million dollars each does NOT account for a couple trillion dollars of bail out stimulus from congress your story does not say anything about credit default swap scheme my guess is our government is encouraging graft and corruption: public be dammed VOTE THIRD PARTY

Good explanation! Here is another sweet (easssy) explanation of the crisis, in a visual flow. It helps show the players and how they contribute to the crisis (from the lender, buyer, and the insurance people). http://www.quickencommunity.com/quickenOnlineBlog/The-Financial-and-Credit-Crisis---How-Did-It-Happen?@1.L1e8bnhrPKq@