The financial crisis affects all of us. It affects us at work and it affects us at home. If you want to understand what happened, why it happened and what happens next I strongly encourage you to watch three short videos on the Wall Street Journal's website.
They call this series "The End of Wall Street". I tacked on "for Dummies" at the end to communicate that they use plain English to explain this ongoing disaster. The editing was "edgy" and fresh in each of these 8-minutes long videos.
I have provided direct links to each of the three videos (see the "click here" below).
Part One: What Happened Click here
The housing bubble inflated and burst, and the easy money led to the collapse of Wall Street's biggest financial institutions.
Part Two: Why it Happened Click here
This occurred because they created hard-to-understand
derivatives that Warren Buffett once called
"weapons of financial mass destruction"
Part Three: What Happens Next Click here
No one has any idea what is going to happen next. But it is clear that the US Financial System has been destroyed.
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