Global financial crisis put all of us in a real mess. How all these started? Why the problems in American banks spread all over the world and damaged the world economy? MIT Professor Simon Johnson tried to answer that in a simple language. He started a blog to explain the crisis in detail. Checkout his blog Baseline Scenario.

Prof. Johnson’s blog has a good starting point Financial Crisis for Beginners. His explanation about CDOs is right on point. You will be able to grasp his thoughts even if you are non-finance person.

Financial meltdown is not only affecting common man, but it also affected world’s 94th richest person.

German billionaire Adolf Merckle, assailed by financial turmoil and struggling to salvage his business empire, has killed himself yesterday. More on this here.

A small village in Gujarat State, India is conducting a religious ritual in which 3,000 priests have begun chanting hymns to invoke divine intervention to fix the global financial crisis.

Bizarre, isn’t it? This ritual was started 15 days ago. Priests are sitting around 109 sacrificial fires and chanting hymns to appease goddess Meldi, urging her to restore prosperity.

Well, if this succeeds, we can ask our new secretary of state Hillary to conduct similar rituals to restore world peace.

Indian ritual is expected to last 2 years. The global crisis will end well before Indian priests’ two-year time frame whether these guys perform the rituals or not.