For those who didn't see Sunday's 60-Minute piece on CBS in the US on the sub prime disaster, it is available here at Agoracom. Just scroll up to the top of this page and click on "Why Wall Street CEO's Must Go to Jail And Pay Back Billions In Bonuses."
It's about 15 minutes long and IMO does a good job in explaining it all including what the main culprit, those "swaps" is all about. It was even more interesting to me seeing it for the second time. You have to plod thought a short commercial first.