Burning Down The House: What Caused Our Economic Crisis?

[LePaul]

Great video on what caused the mortgage crisis....

http://www.youtube.com/watch?v=H5tZc8oH--o

[Mr No Name]

Loaning people money who should have never qualified for a mortgage for property that was falsely over double the price it was worth.

[Gunthr]

Excellent post LePaul.   Thanks

[Eagler]

greed

[ridley1]

When you start using essential commodities (houses, energy) as an investment vehicle to make money......you create a speculation market.

You get toasted.

[Kaw1000]

Wow this is powerful. Can we put it on the national news??

[Gunthr]

Drudge picked it up

[Carrel]

Before I even look I'll go out on a limb here and predict this opinion piece will put the blame for our economic collapse squarely at the feat of the Democrats.

Am I right?

[Kaw1000]

Before I even look I'll go out on a limb here and predict this opinion piece will put the blame for our economic collapse squarely at the feat of the Democrats.

Am I right?

Disagreed...it was all of them..but if you watch..it shows who try ed to fix it and who
used it to their advantage. and who started this whole mess. Imo all of government is to blame.

[john9001]

barney frank 2006, " there nothing wrong with fanny an freddy, everything is ok"

[alskahawk]

Before I even look I'll go out on a limb here and predict this opinion piece will put the blame for our economic collapse squarely at the feat of the Democrats.

Am I right?

...
 I would love to place the blame on the Republicans. But Congress is all swimming in the same pile of defecation. You can trace it back to the Gramm-Leach-Bliley act but both sides got their paw prints on it. Dem's wanted low income house purchases to go up, Republicans wanted deregulation. Banking wanted money.

 "barney frank 2006, " there nothing wrong with fanny an freddy, everything is ok"
Posted on: Today at 03:59:46 PMPosted by: Kaw1000 

 President Bush...The economy is sound, The economy is fine. Um Uh we need 700 billion dollars now.
John McCain...Fundementals are good.
Greenspan... There is no housing bubble..Lot of other positive statements.
 
 

[john9001]

 "barney frank 2006, " there nothing wrong with fanny an freddy, everything is ok"
Posted on: Today at 03:59:46 PMPosted by: Kaw1000 

 President Bush...The economy is sound, The economy is fine. Um Uh we need 700 billion dollars now.
John McCain...Fundementals are good.
Greenspan... There is no housing bubble..Lot of other positive statements.

in 2006 mccain and greenspan both said there was a problem with fanny & freddy, it was barny frank and chuck schumer that said everything was fine.