Mystified by subprime? ask the Telegraph...

Mystified by how 'sub-prime' debt engulfed Wall Street's smartest and now threatens the wider global economy? BigMac points to the Telegraph's comic strip, which might help explain how the story started:

The credit crisis explained in black and white.

Click to The Telegraph for partial comic strip

Or to here for the fuller adult version...

Or to here for the original slide show...

... to which a comment on BoingBoing says:

"I have it on good sources that this was actually made at Countrywide Financial"

which explains why no-one wants their name on it!

Also see The Economist on Freddie and Fannie: it's turtles all the way down!