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.
Or, better yet, don’t trust me. Go and see for yourselves.