Unless you’ve had your head buried in sand for the past few months, or have been living in a cave in the mountains with no contact with the human world, you probably know about the whole subprime-liquidity-credit crunch situation that has been haunting the world markets for the last many months.
I am no expert on the topic, but have a very basic idea of the situation. What I do have is a very good primer on the ongoing crisis. The link is :
http://canada.theoildrum.com/node/2871 - also click on the links within the article to uncover a wealth of information of the various related topics/issues.
Of course, this piece is far from perfect but it is a very good start if you are completely uninitiated. It gives a macro picture to the whole case.
Also check out this link for a ground level report, the root cause of all this :
http://www.ocregister.com/news/loans-camile-percent-1806121-subprime-loan
