A must listen explanation of the Subprime Mortgage debacle and how we got into this mess

Yes, I know yet another thing to listen to. Suck it up, it's for your own good. Besides, you might understand how the subprime mortgages got us into this mess.

http://www.npr.org/blogs/money/2008/09/oil_up_stocks_down_plus_the_ro_1.html

You don't have to listen to the whole thing (although you should). The actual explanation starts at 8:35.

This is by far and away the best explanation of how this works and why we are where we are today.