Subprime Crisis made simple: Tutorial on the Mess

I have been reading about the subprime crisis on various websites and newspapers.
But the Best explanation of the whole fiasco, by far, is exlained in the below blog.

The whole mess is explained in a very simple and detailed fashion in the following links:

http://greatbong.net/2008/10/01/the-great-wall-street-meltdown-part-1/
http://greatbong.net/2008/10/05/the-great-wall-street-meltdown-part-2/