Embarrassed that you don't understand what this gigantic crises is about? Don't be. Till this very day, 79 years after it began, no-one has satisfactorily explained what the previous gigantic one was about, either. This one isn't as bad as that one was, but if it helps, the folks who made it happen - even they - don't understand what happened. Or perhaps more accurately, they didn't manage to see what they were doing wrong as they were doing it.
Over here, however, Michael Lewis writes a hilarious but sobering account. He's found a couple of fellows who not only claim in retrospect to have seen it coming. Apparently, they bet lots of money in advance on the inevitability of the crash.
The weirdest part of the story is that apparently thousands of those whiz-kids and their elders who populate Wall Street and look down on the rest of us for being plodding yokels, didn't have any idea what they were doing. When confronted by the few who understood what was going on, they continued not to understand.
Another thought, one that some won't like, is that while the crises had a number of tiers of stupidity and recklessness, the original foolishness was in allowing large numbers of people with practically no money to purchase real estate is if they did. Shades of 1928, with housewives and janitors investing in Wall Street. Perhaps it really isn't such a good idea to democratize the financial markets beyond a certain degree. Most people should live with the limited money they have, and need not engage in matters they really don't understand. I know, this sounds elitist, but in this case, since I'm of the majority that doesn't need to be there, maybe you can forgive me for being elitist.