I don’t intend to go on a sermon here. I was listening to the radio program on Chicago Public Radio and I felt this is an useful resource to understand the jargon and why there is a banking crisis.
Alex Blumberg and Adam Davidson explains the banking crisis using simple languages that can be easily understood by a common man. Their show is modeled on the lines of a radio drama where they start explaining how the banks work. They teach us about a balance sheet, asset and liabilities. Then, they turn to topics like toxic assets, mark to market, insolvency, TARP and nationalization of banks.
I panicked while listening to the program. So, I advice you not to listen to this in a bad mood. Being informative, this is highly recommended