Burning Down The House: What Caused Our Economic Crisis? Bombshell
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. Aside from ripping the corporate goons in the media, please be respectful in your comments. Thanks. Obama Bombshell Redistribution of Wealth Audio Uncovered
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@shilohwillcome There is no “acknowledging” who caused it, only accusations, exactly what this video is doing, and pretty much everyone else on this page, and even that won’t help to fix anything except cause more conflict. Would it be a problem if I’m not republican or democrat?
@BoyKagome Idolize him as a messiah? Are you stupid? How did you come to that conclusion? I will post my dissection of this video as a video response. Rolling stones? LMFAO … you’re so far right you’ve fallen off the edge.
@cloakedschemer77 Those who can’t acknowledge simple facts excuse their turning-head by naming the fact an accusation.
@shilohwillcome Jumping to the conclusion that it’s even a fact, not an opinion.
Moscow: Responsibility of the GLOBAL FINANCIAL CRISIS is Russian. Recognition on “shevchenkoTV”.
@cloakedschemer77 A fact is objective, an opinion is not. These are simple facts.
@shilohwillcome Fine, say its a fact, say its somehow all at the fault of one single group of people with the same viewpoint, and somehow no person of the opposing side are at fault either….. I can definitely see the logic in that.
@cloakedschemer77 Well it is logically consistent, but that’s not what i’m saying. Obama is constantly blaming Bush and the republicans for the problem. Although the republicans did not do enough to stop it, the cause of the problem lies at the feet of democrats. Those who do not recognize the problem and where is lies is forced to repeat the problem.
@shilohwillcome
Holy lol, Fannie and Freddie had nothing to do with this crisis. What caused it was Alan Greenspan lowering interest rates for banks which promoted subprime loans.
In fact Fannie and freddie only owned 24% of the subprime market in 2006 (the absolute peak of the bubble).
@shilohwillcome I doubt Obama “constantly” blames Bush, a large amount of people blame him, which isn’t right either, no one person could’ve caused this no matter how unpopular, neither any one group of people could’ve created such a problem. If you do identify the source what then? What do you do? It amounts to nothing accept give them great unpopularity. The problem won’t repeat if enough people agree to work together to help stop it, but i guess people are generally too short-sighted for that
@CartoonDiablo5 Of course Fannie and Freddie had something to do with this, but I didn’t claim this. It was both. And if Fannie and Freddie DID own 25% of the subprime loans, how can you say they had nothing to do with it?
@shilohwillcome
Well yes but just think about it for second. Subprime loans made up 21% of the mortgage market and Fannie and Freddie insured 24% of that 21%.
So what were the other 76% of the 79% of banks doing? Well they were promoting crap subprime loans knowing full well there was nothing to back them up.
They took a risk because home prices were exploding (low interest rates) and people could flip their houses (until prices fell and people couldn’t).
This video has many lies & inconsistencies that I posted a response video where I dissected it. I provided the actual articles AND relevant facts. If you want to remain ignorant, don’t research & assume what you see on youtube are facts. However, if you want to know the truth about ANYTHING, learn ECONOMICS. The mortgage “crisis” did not cause the US economic “crisis”; it is the lack of worlwide spending on US goods, possibly because of inflation due to accelerated increases in oil prices.
@AllenQuatermain2de Why do your posts appear to be written in purple crayon?
@spamvigilante becuz i love writing stuff in purple crayon.. duh.. geez your a real moron aint ya:P
@AllenQuatermain2de Sorry, Mr. Right Wing Nut Job. You’re totally and completely without a clue. And obviously without an education.
in my opinion the obama administration should put a law that limits the amount of money sent to different countries, i know people that send 90% of their paychecks to mexico and live here in a small apartment with 10 other people. the money is leaving the united states, these people in a matter of 3 years have used the USA, and gone back to their home country with a nice house waiting for them overthere, that they bought with money made here. i can go to western union right now and send 4k dllrs
to colombia for example and nobody would say sh#$. Another thing is in my opinion thats affecting the economy is the president in mexico and all the killings in chihuahua over drugs. it sounds cruel but this president is not allowing drugs to cross over to the US, americans love drugs, i watched the show drugs inc the other day and drugs make up like 37 billion some money in the us, and if not getting here than… i know these 2 things arent the only cause, but i think theyre affecting.
Someone’s been watching a little too much Faux News, in my opinion. The fact of the matter is that to blame one political party for the financial crisis is obscenely narrow-minded (which is why, of course, we see everyone doing it). Both Democrats and Republicans over the past two decades have been complicit in the deregulation of Wall Street, and members of both parties today are in the pockets of the bankers, as shown by the watering down of the recent “historic” financial reform bill.
@leonydis300 There are billions of dollars of “customer service” jobs outsourced to India, Philippines, Ireland, etc and all you could think of is “people that send 90% of their paychecks to Mexico.” If I were able to retire in Mexico, I would do it as well. US factories are outsourcing too many jobs because corporations & even small companies in the US are unwilling to pay US laborers. They pay $2 per day to employees in other countries instead of $5 per hour or higher for US workers.
The disbelief in this world today is causing us not to believe in anything, possibly not even in ourselves as we are told that ‘some are too big too fail or prosecute’ and that we have to pay (BAIL OUT) their obscene actions. We need a new concept in law for these thieves, and that is an ‘Obscenity Law’ that will demonstrate and prove these CEO’s and Board Members have acted and created obscene high risk (thievery) situations (to create OBSCENE profits + bonuses) for which they are liable.
Obama is doing a hell of a job destroying the economy and killing jobs, if you people still vote for the Democrats in November after they killed 6 million jobs you deserve the to be hanged for stupidity…
What have we learned from this? NEVER leave a democrat in charge of money!!!!!
when you got idiots like barny franks representing us, you reep what you sow.
when you got idiots like barny franks representing us, you reep what you sow. No one should make a profit off housing people, period.