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.