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Current Crisis for Dummies

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Ali Mir, Professor of Business at Wayne Paterson and acclaimed lyricist for films like “Dor,” has produced a quick guide to the financial mess we are in:
If you don’t understand the financial crisis on Wall Street, don’t fret. No one does, least of all the experts. What we do know is that it is an unholy mess, which is about to get worse. Here’s my quick FAQ for those who don’t wish to wade through dense treatises on collateralized debt obligations, asset backed commercial papers, and blah-blah-blah. It’s hardly comprehensive, but it can serve as a starting point for engaging with the issues surrounding the greatest financial debacle since the Great Depression. Let me know if any of this doesn’t make sense. AM.