Can someone tell me where i can find a simple overall summary of the financial crisis?

This crisi isn't a crisis. The market has gotten bigger faster in the past decade. Now it is declining. What goes up has to go down every once in a while. It is called a correction. If it just kept going up or down it wouldn't be much of a market.

Still, I hear you. so I posted a few links.

Please note the dates, this has been ongoing for a while.

It's just that all of the greedy participants (bankers, investment firms, investment bankers) started using their insured mortgage securities as assets to try to get credit and , uh-oh, some of the "securities" were just insurance on loans that never were or that were already bad. Banks and institutions started looking at what they were buying and trading and making loans on ... and were "shocked" to find they had INVESTED AND MADE LOANS TO BUY BaD ASSETS, worth next to nothing. When all the banks found out how wide spread it was they quit lending to each other and other firms, because who could you trust? When that happened the big boys with the most debt couldn't get enough money to cover their normal operating expenses, because they had spent their reserves buying all that high interest bad debts with their reserves. Basically they were worth nothing. So the governments had to step in and cover the losses. Now the government is trying to offer short term loans to get the credit market back to trusting itself.

There is so much to read on this, it would make you dizzy. Basically, some very big companies have been doing some pretty stupid things and now no body trust any of them.

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