This 'This American Life' clip is, by far, the best explanation I've heard of the mess we're currently in:
http://audio.thisamericanlife.org/player/CPRadio_player.php?podcast=http://www.thisamericanlife.org/xmlfeeds/355.xml&proxyloc=http://audio.thisamericanlife.org/player/customproxy.php
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That episode is a great explanation of how it all happened, this one explains what's going on now:
http://www.thisamericanlife.org/Radio_Episode.aspx?episode=365
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