There is no shortage of great books that explain the financial crisis in simple details that even a boob CEO from Countrywide, Citibank, Fannie Mae, Moody’s and Goldman Sachs (not a typo, even the Goldman guys turned a blind eye to the mess as it was created!) can understand.  Here is another one called Financial Shock from economist Mark Zandi, and it is definitely worth reading.  You can read chapter 1 here for free and decide for yourself if you want to purchase it.

Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis
Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis by Mark Zandi