The Why and How of the Current Economic Crisis or Shadow Market Goes to Town

So I came into this video having no idea what the hell was going on with the economy. I knew that there was some sort of trouble and that people were calling this the kind of disaster that occurs every 50 or 100 years. I had no idea what caused it or why. This clip explains exactly that in really simple terms. My next thought is, if this can be explained so simply, then why was this ever a problem? Was simple greed enough to ignore the obvious fact that if everyone is betting on bad investments to not fail, with no capital to back up the bets, that betting couldn't last for that long? It truly boggles the mind and hurts the knees. Hooray for shadow markets! [via Crooks and Liars]