John Rogers at Kung-Fu Monkey has a post up containing links to two fantastic episodes of NPR's This American Life that explain in detail, yet complete clarity, everything about the current financial meltdown.
355: The Giant Pool of Money
365: Another Frightening Show About the Economy
I've only heard part of the second one, which I sat in my car for twenty minutes to finish, and I meant to go back and listen to both whole episodes and then blog it up, but this being a deadline week and all, I completely forgot.
Anyway, as Rogers puts it, it's your duty as a responsible and informed citizen to understand what the fuck is going on. (Unless you are a Republican, in which case you can go over to rushlimbaugh.com and continue to dissolve what's left of your atrophied brain.