Below are some links I have collected that clearly explain what is going on in the global financial markets right now.
When we look back in 10 years or so the financial world will be a very different place than it was in July 2007 and is right now. I think it is important to read about this, understand what has gone on and more importantly what needs to happen to move forward.
The Dummy’s guide to the US Financial Crisis - Seeking Alpha
Understanding the Global Credit Crisis - Buzzfeed
Outline of the US Congress draft bail-out plan- Reuters Factbox
Twin Towers of debt threaten to implode - Brian Gaynor
Tales of the subprime: troubled asset on a bender - Huffington Post