Just finished 'Boomerang', by Michael Lewis

One of the best explanations I've found for our current financial mess. The author of 'The Big Short', 'The Blind Side' and'Moneyball', among others, details how the big investment bankers bundled the sub-prime mortgages, after making a killing on 'prime' mortgage packaging, and sold them with a Triple A rating, thanks to incompetent crooks at Moody's and other ratings agencies. These toxic instruments were bought by pension groups, cities and countries who thought that AAA meant 'no-risk'. HA. This was worthless paper, from 'Liar Loans', as totally unqualified buyers bought WAY overpriced properties so a few investment bankers could reap HUGE profits. The Bush staffed SEC, headed by Chris Cox, turned a blind/ignorant eye toward massive corruption, as AIG 'guaranteed' the whole mess with complicated 'credit default swaps' and other derivatives that masked the ticking time bomb until it exploded in Bush's last year and he had to write over $850 BILLION in checks to delay the economic crash that was handed off to Obama. The jury's still out as to whether we can survive this economic catastrophe, but Iceland and Greece provide great examples of how to face (Iceland) or delay (Greece) the inevitable. The toxic mess is a perfect example of the Pubs 'deregulation', and letting the markets set their own direction. Bottom line, greed trumps common sense and don't be surprised when you're left with nothing but a pile of feathers after foxes are left in charge of guarding the henhouse.