Financial Crisis USA part 1

So it would be shame to not mention anything about the financial crisis going on in the USA at the moment. As I have been following closely to the rollercoaster rides of the DOW Jones index, I have found some great sources of intellect.

So where did all this begin? the US war with Iraq?

Will this become a great depression like in 1930s? No, but the future generation will definitely call this "Great repudiation"
The root cause of this crisis lies on the foreign debt that US holds. There is a $3trillion debt hold by US over past few years. These were borrowed from countries like China, Germany, Japan, and Saudi Arabia. And US financial institutes used this borrowed money for mortgage loans. As we have been hearing all the time from SEC chairman Henry Paulson, and Ben Bernke, the loans offered to people who didnt have sources to pay them back are causing much of this lag in the money for financial institutions in US.

Any how, the $700 billion dollar plan to buy back troubled (above mentioned) institutions who got them selves screwed over by giving mortgages and lending money to people who didnt have a way of paying back, has increased the burden that US tax payer had. Which was about $30k per person.

Much of the plan to buy back stakes of US banks with that money, as we saw caused the highest gain in DOW. But declining again...
It might still not be the time to invest in the market to bag up the gains when DOW shoot up.