Burning Down The House: What Caused Our Economic Crisis?

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Analysis, Barack Obama, Commentary, Crisis, Documentaries, Economic, Financial, Gotcha!, Grassroots, John McCain, News, Outreach, Poli

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This video is an informative look at the factors that are causing our current financial and economic crisis. It discusses policy changes 13 years ago that unleashed the sub-prime mortgage-backed securities market, which accelerated prices erratically, inviting speculation and loose lending practices which were both condoned and encouraged by existing regulation and carried out by risk-blind executives and Fannie Mae and Freddie Mac.

Aside from ripping the corporate goons in the media, please be respectful in your comments. Thanks.

  1. By: Frank-n-Nicole
  2. Categories News & Events
  3. Views 2,059
  4. Added :02-Oct-08
Comments on Burning Down The House: What Caused Our Economic Crisis?
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  • 60 minutes

    had the best information on the subprime loans which are loans taken from stock investments on Wall Street. They showed one family in California that had a morgage payment that jumped from $2500 to $4200 a month. The people who got the loan didn't know their mortgage payment would jump that much. Neither McCain or Obama are the blame for this. The blame lies on the people who bought the loan knowing they weren't going to get a fixed interest even though they didn't know what their mortgage would jump to. This is the truth about why they lost their homes. People need to work at fixing their credit before they buy a home and not take the first loan that is offered to them. Realtors are equally to blame in this. They should have known more about the mortgages that they were offering people.

    By mystichealer 1223063322
  • Right on with content, but...

    slow it down a little (actualy, a lot) so that you can read it. The "flash card" effect was just too much.

    By InVisionTec 1223055109
2 Comments
 

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