My initial years in software development were spent writing software for trading, stock markets, cash markets, futures, derivatives trading — mostly for trading houses, brokers and in general for the finance industry. You could say that I have at least some knowledge of how financial markets work. In the same breath I can assure you I am no expert in the workings of the finance industry, but I am not totally clueless as to what’s going on either. However, many of my colleagues and friends from software development backgrounds are clueless of the exact nature of the current credit crisis that has, what some have equated to being a “financial tsunami” to have hit the world.
If you are one of those who doesn’t have a clue of what’s going on and why people are hysterical, or wonder why a housing crisis in the US is going to make you living 10,000 miles away homeless, this is probably the best explanation I have yet to come across.
I would sincerely suggest you take a look at it.