Incredibly simple explanations of the crisis and what led to it

With everybody speaking about the economic crisis all day long, I began feeling more and more confused. Despite having taken corporate finance at the University, I moved away from the scientific explanations of the situation and rather preferred a single, truly lame explanation that would fill all the voids. I actually found found two of those, and I am posting them here. I'd be happy if my finance teachers could see this post and use the way of explaining as a lesson.


The Crisis of Credit Visualized



This American Life: The Financial Crisis in 59 Minutes