The lakes were then discovered to be of about the same shape and orientation, and people began to speculate about their origin. One strong contender for awhile has been the bays are formed by winds, and or water currents. The other strong contender is that they were formed by a large meteor or comet that exploded high in the atmosphere and spewed chunks of itself over much of North America.

Recent evidence strongly supports the fragmented comet theory. Rather than duplicate everything I've gathered at the Google Earth Community Forums, I'll provide a link: Google Earth Community: The mystery of the Carolina Bays
The initial post has some links itself. The Carolina Bays has a video of a conference about event which is rather long but may be of perticular interest because it contains current information (May, 2007).

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