How democrats lied to America, while using community reinvestment act and acorn to destroy the American financial system.

Democrats (Barney Frank, etc) have let this housing crisis happen and I will show you why. Americans are being lied to and now we are being stolen from.

CNN and the media is trying very hard to spin this, everything in this video will have a counter argument and an accusation that conservative republicans are liars.

Yet left wing non-profit organizations are allowed to run amock leveraging government power to extract money out of banks for their own personal wealth, power and gains. Remember community reinvestment act in it's pure form did not cause this, but the act WAS used to put us into this mess.

Watch, learn, research.

Cato Institute seemed to have found this out many years ago.
http://www.cato.org/pubs/handbook/hb108/hb108-21.pdf
Next video on ACORN coming soon.

Category:

News & Politics

Tags:

• housing
• crisis
• fannie
• mae
• freddie
• mac
• acorn
• naca
• laraza
• community
• reinvestment
• act
• subprime
• loans
• barack
• obama
• bailout
• bail-out
• bail
• out
• republicans
• arkady
• arkadyka
• mccain

[rygysmom]

OMG I love your ending!! This is great! I love when young kids care so much!! You are fantastic!! This is RIGHT ON!! Keep it up sweetheart!!

You can sure pick out the Dem's who comment can't ya? LOL They still can't admit the truth...even when you give them FACTS!! I think they are regretting this VOTE all ready!!

You can only hope they are !! Geeze we going down even faster now...and every time this man opens his mouth the market DROPS!! EEK!!

[badfickle]

There are several other very important causes to the crisis. The private banks (who made the majority of the subprime loans) had their own way of insuring the mortgages. Credit Default Swaps and other instruments were invented after the S&L crisis in the late 80's. The inventor of them Bill Siedman urged Greenspan and Bush sr. to regulate them and Greenspan said no because they were "sophisticated instruments traded by sophisticated investors. The market will regulate itself." He was wrong.

[Astrochronic]

he makes very good points. Unfortunately he has a really annoying voice. He should consider an approach to making his points with out using his own voice.

[LuDimezofKush]

I wish the democrats would admit to the huge damage they do and the huge flaws in there party. I know the far right won't admit it either but I thought democrats were better than that

[thoostorm4]

@liverleef they made the fraudulent loans to every name they couldthen pocketed the money

[liverleef]

@wildnites558 How did the government "force" banks to make shitty loans? It's interesting that you say banks when the majority of the bad subprime loans came from independent mortgage companies, not banks.

[wildnites558]

Wrong, exactly the opposite. The reason the economy is "shitty", is precisely BECAUSE of government regulation. The gov't forced banks to make loans and mortgages to people of high credit risk (i.e. minorities with low credit ratings and no available means to pay the money back). Thus when the millions of high credit risk applicants began defaulting on their mortgages en masse, it led to the '08 financial collapse. The federal government was the prime mover in the financial collapse.

[sindogjr]

One word that describes the reason for our shitty economy..... deregulation

[lmdslam]

@arkadyka Volume of subprime and nontraditional lending (ARM loans) from the top 25 nonprime lenders originated $105 billion in 2000.

Then after bush’s home ownership society in 2002 (go to youtube, search HOMEOWNERSHIP AND PRESIDENT BUSH)

it rose to $188 billion in 2002. $310 billion in 2003.

$730 billion in 2004.

$1 trillion in 2005.

Wall st made trillions of dollars off of people who could not afford homes from the transactions and repackaging them into derivatives

[lmdslam]

@arkadyka In 2002 george bush mandated a home ownership program where he says that downpayments should be subsidized, the mortgage process should be deregulated and mandates fannie and freddie to increase minority home ownership by 440 billion dollars creating the housing bubble that killed our economy (at the 4 minute mark of the speech). To see the speech he gave back in 2002 , go to youtube, search HOME OWNERSHIP AND PRESIDENT BUSH.