Thursday, October 2, 2008

Burning Down The House: What Caused Our Economic Crisis?

This video is an informative look at the factors that are causing our current financial and economic crisis. It discusses policy changes 13 years ago that unleashed the sub-prime mortgage-backed securities market, which accelerated prices erratically, inviting speculation and loose lending practices which were both condoned and encouraged by existing regulation and carried out by risk-blind executives and Fannie Mae and Freddie Mac.

(I ask you to watch this video in its entirety, contemplate if you will the content. Many of you state that you listen with an open mind, I am asking no less. If you watch this entire video and come to the conclusion that Senator Obama is still "Change We Can Believe In" there is no "changing your mind. VN8)


VoteNovember2008 said...

No rush, take your time. I haven't heard your explanation of the mortgage crisis, but I'd love for you to elaborate on what this video "left out". VN8

That dude Paul said...

It was great jawing with ya tonight. I think we held our own against the 4 or 5 libs.

I'm looking forward to the next time.

VoteNovember2008 said...

Paul, me too! See you in the very near future. Thanks for stopping by my blog! TGIF! Dick Morris is eating Alan Colmes lunch on FOX News! LOL OMG, I hope you are watching this. VN8

That dude Paul said...

The video is packed with facts! I know the Dems dont want to face the music, but sometimes you gotta call the baby ugly.

I hate that the government felt compelled to push these risky variable rate loans on people who are economically weak.

The people should have been smart enough to assume rates would rise. But nooooo...they left no wiggle room in their home purchases in case the rates rose (give them an inch...they take a foot). So here we are.

I dont blame Carter and the Dems for coming up with the idea... I blame the govt over the years for not cutting it off before it hemorraged.

If you and I managed our personal finances like our govt, we'd both be behind bars...

VoteNovember2008 said...

Amen, Brother! The only difference you and I have is I do blame it on the Dems. They have taught the American people that "you don't have to live within your means", "we don't and if you don't we'll bail you out!" LOL Personal responsibility is big with me and the problem we currently have in my humble opinion is that people borrowed money they couldn't pay back. I don't give the mortgage lenders a free pass, but if someone signs on the dotted line, they better know what they are signing. People qualified for way more than they ever should have! Lenders were pressured by the government to make loans to people that should have never been loaned money.

Apparently we have someone who has an inside look into the mortgage debacle and maybe she will give us some insight. (Angie) I'd certainly like her to take the information in this video and tell us what was left out and what is wrong with what is in the video. It never hurts to have an inside look.


Anonymous said...

Great video, linked to my site. The Dems are acting in the same manner they have since the 1930's with FDR, who did not solve the Depression then. Just like they are not today. They are causing it.

VoteNovember2008 said...

Conservative, yep, it's all just a continuation of the "New Deal"! I say, "deal or no deal?" I say, "no deal!" LOL VN8