I couldn't find a video to cover today's topic. So, instead you are getting a link.
The short version:
People used their houses as collateral and banks lent them money to buy the house (you know, a mortgage). Then the banks sold those houses to investment companies that bundled them together into CDOs and started that whole scam.
The bubble burst and people are defaulting on their mortgages and banks are foreclosing.
But . . .
The banks don't own the houses. They sold them off. To unknown people. Nobody knows who owns these houses.
People have started fighting the foreclosures in court because the bank is trying to seize property that it doesn't own.
And the people are winning.
This is going to be huge.