Savings & (Mis)Trust: A Credit Crisis XPLANATiON

[cheeseaura]

Last half of the video never happened. They kept the money and used it to buy out and consolidate others.

But the real story is that it was a cover to make people look away from what was really destroying the economy and that was the derivatives.

[tescomick]

My wife said she d go anything with me ..........She started with my savings!.

[JRBeaman]

The banks got screwed because the democrat run congress of our government required that they take on bad loans. This video is only a tiny part of the story, everyone got screwed. See:

watch?v=1RZVw3no2A4 for the cause. This video is NOT the cause, but only part of the results.

[bluekarma4]

It's a love hate relationship with the banks.

[schooloffinance]

great.

[mikegnome]

The pictures aren't that helpful.

[art4med]

Bankers' greed is good?

No---

Accountability is good: wanton banks should fail and brokers' jobs should be lost.

That $700B ain't enough-- and its going WHERE?

(Note, great visuals need better audio.)

[stupidtreehugger]

@art4med

Possibly everyone would benefit from seeing video.google THE MONEY MASTERS documentary, the best single economics and history lesson in existence (arguably even more powerful than Loose Change or Zeitgeist)

[MyFreeCredit]

Nice vid. Thanks for sharing.

[stupidtreehugger]

@MyFreeCredit b 03:05 Oh there it is, the lie connecting this half truth to the fuller truth:

"The value of asset-backed securities nosedived, and banks were no longer able to BORROW against the billions of dollars TIED UP IN these assets."

The banks didn't borrow ABSs, they SOLD them to special purpose vehicles like Lehman Bubbles, and the only assets tied up in them were those of the saps who bought the ASBs.

[lbracci2]

Can someone traslate this to spanish? Thabnks you!

[rabid]

There are two big pieces of this missing: The investment market that drove demand for mortgage backed securities that lead to the lowering of lending standards and the deregulation of the derivatives market that really put the banks in a bind, led to an unheard of level of speculation that amplified the mortgage crisis beyond anyones worst nightmares.