Today David Leonhardt at the Times has written a very nice piece on the credit crunch that makes things a little more real. The article leads off with a story passed down to a current professor of economics from his grandfather, who lived through the Great Depression, and who felt similarly about the scoundrels on Wall Street. Before the credit crunch led to the demise of his business.
Tom Friedman offers a similarly clear view. I think we need more journalists teaching economics to high school and college students!