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)