I’m going to give you two videos. The first is an MTV-style explanation of the origins of this mess we’re in. In brief, it describes the Community Reinvestment Act passed by the Carter Administration, and how under the Clinton Administration it was turned into a carrot-and-stick tool to drive the sub-prime market.
The next video shows how the Bush Administration attempted to deal with the issue, but was blocked by a corrupt Democrat-led Congress.
Last but not least, how this mess applies to the current race. Obama, the Saul-Alinsky inspired ‘community organizer‘, with his connection to ACORN, is part of the Democrat axis-of-socialism. This video shows the corrupt leadership of Fannie Mae and Freddie Mac congratulating the Dems for their support.
The source of this mess is simple - easy money. Cheap credit enabled people to buy beyond their means, and their excess was underwritten by the US Governments. We can blame Wall Street for this mess with about as much credibility as we can blame a table when we stub our toe on it. The individual investors who trust their savings and retirement to Wall Street are the victims of socialist policies of the Democrats and the irresponsible behavior of Americans who borrow money they can’t afford to pay back.
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