Considering that the present financial crisis has been variously described as the most challenging after the “Great Depression” of the 1930’s and certainly the greatest of our generation, I thought it would be fitting if the issues involved could be put in perspective. So here is a take, which has been doing the rounds on the internet which I found very interesting. I have not been able to elicit who the original author of the piece is. However, I liked the write up immensely because of the very lucid way in which it explains the complex maze. Therefore, I have decided to post it in a new category called “explanatory musings”. I especially recommend this piece to the uninitiated in complex financial matters ( like me).
Warning: Since the article is going to be long, it will be in the form of a series. So if the reader wants the complete picture, she is advised to read the entire series.
PS: I am posting the two part series in exactly the same form as I received it in email. Please do not be misled by the first person style of the writing. I am not the original author of this piece.