I currently spend many hours per day working on matters related to the subprime mess. I have sat through countless mind-numbing presentations regarding how and why this mess developed. By far the best explanation I have found is here. It will take you 3 minutes to go through, you will laugh your butt off, and you will be genuinely better informed when you are done. So go; you will not regret it. (Warning: Some rough language.)
(For cross-post at Centerfield and comments posted there, click here.)
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