Who's to blame for the mortgage meltdown?
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Uploaded by reidblog on Sep 29, 2008
The right is having a field day blaming the poor, minorities, and the CRA (Community Reinvestment Act.) But who's really to blame for the Wall Street crisis?
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No one is blaming the poor or minorities. The government, via unnatural social and economic engineering, once again gave them the shaft.
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hmmm, let's see...AHAH! so the house-flippers are to blame. Haha! so funny! Nevermind abt personal responsibility on the part of borrowers, they're just a bunch of innocent kindergartners who didn't know diddly abt personal finance. eh heh, yea, right...Those ignoramuses brought the world's economies to their knees! Dumbarsses!
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Experience should teach us to be most on guard to protect liberty when the Governments purposes are beneficent. Men born to freedom are naturally alert to repel invasion of their liberty by evil-minded rulers. The greatest dangers to liberty lurk in insidious encroachment by men of zeal, well-meaning but without understanding.
—United States v. Olmstead, 277 U.S. 438, 479 (1925) (Brandeis, J., dissenting)
3 years ago 2
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Thank you! This is the clearest, most informative video I have seen on the subject. While I know it won't convince those who believe 'minorities' are the cause of every problem, for those with any intellect it is an eye opener. Again, thank you!
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we are consciousness
doctors promote sickness with over medication
church destroys spirituality
university destroys knowledge don't want too many smart people do we
govt destroys is freedom they are not there to serve us
major media destroys information can have the truth floating around out there can we
lawyers destroy justice there to make money only
it is all upside down and you wonder why main street has no idea
we are given a movie that is upside down as a reality
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Don't the rest of your videos support McCain?
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Very educational video.
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Thankfully there is always somebody out there willing to post the truth over all the propgaganda out there. I do disagree with both sides however on some principles. Predatory lending was a bad thing, but so was anybody locking into a variable rate mortgage. Wall Street is to blame for sure, but so is Main Street. This is a full broad scale area of blame that everyone must accept. Regulation however no widely accepted through both parties is the only viable answer to preventing this in he future
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Isn't in the nature of those too inexperienced in economic policies to twist logic around and then call it bigotry? This video is a prime example. So we force the banks to make loans which are too risky and then get mad at them for foreclosing? You should be mad at the CRA for misleading lower income citizens into becoming indebted their whole lives to huge bankers. Another form of evildoers with money tricking the poor through feigned sympathy, and their retarded followers blindly submitting
j4g39 3 years ago 5
We lived in Detroit in the mid 90s when the bank regulations loosened up. I saw house prices double in 5 years in my neighborhood.
As the neighborhood got worse and worse, prices kept going up. I thought that was strange. When I saw my first news report on subprime loans......it all made sense. "Predatory lending" is a comical term which entails loaning money to an idiot who can't pay it back. Who is the idiot in this scenario, borrowers, lenders or taxpayers?
myfletcher 2 years ago 2