How Did We Get Into Such a Mess?

electjohnmccain2008 28 videos
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electjohnmccain2008 | September 28, 2008

Good explanation of how the sub-prime crisis was spawned by misguided attempt...

electjohnmccain2008 | September 28, 2008

Good explanation of how the sub-prime crisis was spawned by misguided attempts to increase home ownership rates beyond what the market dictates.

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Highest Rated Comments

  • If all these claims you've presented in this clip were true how come McCain doesn't talk about it more? His economic advisers must know about it. Maybe because it is not true?!! By the way: quoting Wikipedia and opinions (not facts) from some right wing media is not really a credible source.

  • socialist, u'd think after all these years you'd let the term go. government is put in place to make our lives easier. the ideology is a good one. We'd be much much worse off without social programs. Medicare, social security, public school systems, local and state cops, non volunteer ambulance and fire corps, state appointed road crews, FDA. Think about it for a minute, our "socialist/facist programs keep this country functioning. We'd be fvcked without them.

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All Comments (71)

  • A real maverick... and a person campaiging for him, would take both parties to task for what happened.

    The original law was implemented in order to stop redlining. Maybe people here think redlining is good.

  • Did the government put a gun to the head of Wall Street and tell them to leverage to the extreme against these mortgages? Everyone said the subprime mess was only a small crisis, until it blew up.

    The reality is America is overleveraged at this point, in all areas. Too much debt as people fall further behind and companies like IBM report record profits and hint at still laying people off.

  • we first got into it when dumb ass americans began eating government shit time and time again even after they had been repeatedly fucked . they are still kissing ass and beleving lies [OBAMA] americans are brainwashed gullible idiots that allow their government to fuck them..they line up for it! opinions abound in the land of the meatheads,,the confused ..this is the new world order assholes! where ya been? you tube 'fema coffins'..use your brains ,,its very clear whats happening and why.

  • I love it how Republicans choose to ignore George W. Bush's plan to help minorities achieve the American dream of home ownership around 2001. LOL!

    Yea, let's ignore that and blame it all on Clinton and skip the other 2 presidents before him and blame Carter. LMAO!!!!!!!

  • Yeah too bad half your sources are Wikipedia.

  • I'm not a democrat. They are probably worse, but only marginally.

    I guess you, like many others, are remembering a time when the republicans were for a smaller government, obeying the constitution, and putting an end to waste and corruption. Those days are long gone. Thanks largely to Bush, one of the worst presidents in American history. Today, it is a tax and spend democrat versus a borrow and spend republican.

    I want the real republicans back--now I have to vote 3rd party for it.

  • are you serious? what do you think would have been better? the democratic solution, which was to give money to the people stupid enough to take out sub-prime adjustable rate mortgages. you are ignorant at best! I know "the scam" thank you very much, i get my information from places other than youtube, try history books, economics theory, and maybe some financial management in your information intake diet. not to mention that the sub-prime problem was created by carter and a democratic senate

  • The subprime frauds were left to run wild while the republicans had control of congress and the presidency. They are without excuse. Here's Bush's opinion on the CRA:

    watch?v=eW9viaJatpo

    The Bailout was a massive power grab by the federal government and absentminded at best (Just throw lots of money at it). It will fix nothing, but will definitely further destroy the dollar and grow government. Empower people to renegotiate their loans instead. Here's the scam laid plain:

    watch?v=aT-d5Kwi4ro

  • sinker, did you watch the video at all? the bail-out's sole reason for existing is to fix the problem that was caused by a democratic "Community Reinvestment Act." The bail-out is altogether necessary, unless you like living in an apartment paying rent for the rest of your life, banks closing,the inflation rate rising, and the economy declining. but i guess if you like all those things go ahead and vote democratic; i'm all for redistribution of wealth as long as its you democrats and not mine

  • > most of us Republicans will not allow a human to be killed to save your sorry ass

    Nope, but the majority will quite happily endorse the murder of a million Iraqis for the promise of cheap oil.

    > If you got enough money you can have anyone killed to save your miserable life.

    For instance, you could become VP and help orchestrate an unprovoked war of aggression to enrich your former employer, Halliburton.

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