What caused the mortgage collapse and economic crisis?

[Nighthawk]

I found this YouTube video unbelievably well done and extremely informative.

Liberal use of the pause button is suggested since there are a lot of headlines/graphs squeezed into the video to stay under the 10 minute limitation for standard accounts.

YouTube - Burning Down The House: What Caused Our Economic Crisis?

[cr0ss]

I was liking the video and its information until it turned into a McCain ad.

That is really interesting that so many politicians fully believed this CRA thing would work. Did they not do any research on something so important? I mean really, a trillion fucking dollars isn't something you throw around lightly.

What really gets me is why didn't anyone see this coming? Or rather, why didn't anyone heed the warnings given? Not quite sure what the fuck people are thinking these days...

[Nighthawk]

I wasn't overly thrilled at how he constantly felt the need to point out "dems back, mccain good". Although to be fair, it is nice to know who to point the blame finger at to some extend, I didn't really need it beaten into me.

However, the sheer amount of thorough research was just very well done.

[cr0ss]

I agree on that.

[Fused88]

Its obvious that the democrat congress has only made things worse. But the Neocons that make up the majority of the republican party are just as bad. All we can do is write our congressmen and tell them to vote no on that bailout otherwise our country is going to be in some serious shit.

[Ganthor]

I'll be watching that video a little later today, probably with my wife. I was just thinking to myself the other day that there might be something in common with the congress majority shifting from Republican to Democrat and then sudden collapse of the economy.

[cr0ss]

Originally Posted by Fused88

Its obvious that the democrat congress has only made things worse. But the Neocons that make up the majority of the republican party are just as bad. All we can do is write our congressmen and tell them to vote no on that bailout otherwise our country is going to be in some serious shit.

BBC NEWS | Business | House votes down bail-out package

[Fused88]

Originally Posted by cr0ss

BBC NEWS | Business | House votes down bail-out package

It's not over yet, Bush and Bernanke will keep pushing for a new bailout package. And of course we still have to deal with all the problems the banks and the stock market made for themselves by issuing loans to people who could never pay them off.

But at least from all the letters and protests people are aware of all the lies and bullcrap and don't want to pay for wallstreet's mistake.

[Ganthor]

Shit, video is gone due to Warner Media blah blah

New Link: http://www.youtube.com/watch?v=NU6fuFrdCJY

[Fused88]

Crooks and Liars » Bush Sidesteps Congress? $630 Billion To Be Pumped Into Economy Despite House Bailout Rejection

What did I just say...


Edit:

There is also going to be a vote for a new revised bailout bill on October 1st.
It wont be over until Bush gets his way. And then we all suffer, Yay!