My friend Brian posted a lucid and thorough summary of the on-going financial crisis. Anyone who professes to be a “layman” in financial matters should head over and read it – you will be hard-pressed to find an explanation of what had happened in simpler terms anywhere. But even if you consider yourself a seasoned investor and/or well-informed individual, you still might find the article illuminating.
Trust me!
Or, better yet, don’t trust me. Go and see for yourselves.
Ilya – thanks for the plug. And thanks, as well, to your readership for coming by and asking some good questions. I encourage you all to stop by more often. I’ve been jealous of Ilya’s commenters for some time now… 😉
Based on what I’ve seen in comments to your post, Brian, I can only take credit for Eric, Sharon and my brother (although I’m sure that he’s checked you out even before). Hopefully, a number of other people read as well, but not commented.