As many of us know the reason, still lot more people didn't understand why exactly this financial crunch the so called "Subprime Mortgage Crisis" happened. Also, we can take it like, every decade something will come to affect the market.
Found a good article and something more in the Wikipedia.
Also I got a forwarded mail from my friend Gunasekaran who runs a website called Thamizh Studio. Forward is a PDF document in Tamil which explains the financial crunch in a funny colloquial language. But its too hard in supporting communism and offending the current Indian governments' financial policies which I don't support.
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