Fannie Mae and Freddie Mac were backed up by the fed so private banques had to do something to compete (agains somebody who has the ability to print money). It is why they invented "subrimes". Now, if the governement had decided not to influence the economy, none of that would have happened. Look up for John Allison, he is a former BB&T's CEO. I'll explain to you what failed. It was not capitalism.
That's nice but the money had to go somewhere and this is not explained here. Not a word on the wealth flow. Who got rich with this and as those banks and financial institutions were bailed out (by the people) who (aside the people) did pay those now very rich people? There is much not explained here starting with the fact that house interests rose very high very quickly before the beginning of the crisis...
Fannie Mae and Freddie Mac were backed up by the fed so private banques had to do something to compete (agains somebody who has the ability to print money). It is why they invented "subrimes". Now, if the governement had decided not to influence the economy, none of that would have happened. Look up for John Allison, he is a former BB&T's CEO. I'll explain to you what failed. It was not capitalism.
maximemeis111 1 month ago
awesome, thanks !!!
deeOOgh 1 month ago
This video does as if Fanny Mae and Freddy Mac never existed and didn't play central role in the crisis, this result in a faulty conclusion.
TheTotallystone 2 months ago
@skyzoophone I has never existed, it's nowhere.
MenwithHill 3 months ago in playlist Favorite videos
I do agrre with icone08, never know where goes the money may be in the black hole at the canter of our galaxy?
skyzoophone 3 months ago
That's nice but the money had to go somewhere and this is not explained here. Not a word on the wealth flow. Who got rich with this and as those banks and financial institutions were bailed out (by the people) who (aside the people) did pay those now very rich people? There is much not explained here starting with the fact that house interests rose very high very quickly before the beginning of the crisis...
icone08 3 months ago
I already known about most of this, but this is especially good explained.
MenwithHill 4 months ago
Wow! Really good! It helped me alot for a school project, I couldn't understand a thing on Wikipedia, but this is very well explained.
Cocowiinee 4 months ago
Awesome video, thanks a lot !
MrHugocentrique 6 months ago