John Schochet, a friend of mine, linked to a great presentation that actually makes the subprime mortgage mess begin to make sense. If you don’t understand the whole fiasco (and I mostly do, but man is it complicated!), check out this slideshow: http://docs.google.com/TeamPresent?docid=ddp4zq7n_0cdjsr4fn&skipauth=true&pli=1
(via Morning Train and My Money Blog and Big Picture).