History of America’s Financial Meltdown
Spend just 10 minutes and learn a lot about why we are facing a $700 BILLION financial crisis.
Spend 10 minutes and learn how the same Democrats in Congress who caused this mess, also got massive campaign contributions from the greedy investment houses and lenders.
Spend 10 minutes and learn that these same Democrats are still kowtowing to their Wall Street donors and left-wing groups during this financial crisis. We expect the people who caused this mess to FIX IT??
Ask yourselves why Chris Dodd & Barney Frank are SO EAGER to pass the Paulson package so we can “move on” to other subjects.  Don’t look behind the curtain, says Barney, just do what I say.
Ask yourselves which political party, over the past 10 days, has stood up for Main Street and which one has had to stand up for Wall Street due to the political support they rely on.
Spend 10 minutes watching this before you decide who to vote for this November. (h/t - Ace of Spades)
[RELATED STORY: Bailout Mess: And You Wonder Why I'm Not A Democrat? - Kevin at Citizen Crain]
-Bruce (GayPatriot)
UPDATE (from Dan);Â As that video above no longer works, please check this one out:
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There is something sinister going on in this country being orchastrated by the Far left.
There are two stories on different sites that must be read. They are each about different things but they both intersect with ACORN and Obama.
From American Thinker, an article about how the Left has a strategy of using any means to collapse American capitalism
Barack Obama and the Strategy of Manufactured Crisis
From the PUMA blog No Quarter, an analysis of how Obama and ACORN are in cohoots with one another to achieve their common goals.
Consumer Rights League, Obama, ACORN and The SubPrime Mortgage »
Everyone must contact your Congressman and be AGAINST the bailout.
The enemies of this country are rushing to have the bailout pass Congress ASAP.
For that reason alone it should be stopped. Plus dont you find it odd how Nancy Pelosi is requiring 100 GOP congressmen to support the Bailout or else she won’t pass it?
She’s looking for cover. She knows something horrible is in that bill and she wants to be able to deflect the coming criticism when it is exposed.
Comment by Vince P — September 28, 2008 @ 8:34 am - September 28, 2008
Never mind that video. I’m voting for whomever Lindsay Lohan, Pamela Anderson, Paris Hilton and the chicks on The View tell me to.
Comment by Right Turn — September 29, 2008 @ 12:00 pm - September 29, 2008
RT, why sidestep - I’m writing in Paris Hilton for president.
Comment by sonicfrog — September 29, 2008 @ 1:33 pm - September 29, 2008
One word of caution to the video makers.
Never, I mean NEVER, use Wiki anything in a video to make a serious argument about anything. They are notoriously inacurate due to tampering by, well, anybody. i grade papers down when the author uses Wiki’s as a source.
Comment by sonicfrog — September 29, 2008 @ 1:39 pm - September 29, 2008
This is a great video and should be required viewing for all voters. I only wish the creators had left off the McCain plug at the end so that undecideds and people with common sense who are moderate democrats would take it more seriously. I’ll be very upset with McCain if he doesn’t bring a lot of this up during the financial debate. And Vince P, I read your links. Thanks for ruining my day and scaring the beejeesus outta me!
Comment by CraigT — September 29, 2008 @ 2:16 pm - September 29, 2008
I am an unemployed mortgage loan processor, I do not pretend to know the arcane ways of high finance. I do know that almost all the major financial companies and banks (except for Bank of America) had subprime lending divisions. In my time processing loans, I know that those divisions were the bottom feeders of the mortgage world. They are now reaping what they have sowed.
They actively offered and sought out loans to people with horrible credit history-they made it a selling point that credit payment history is not considered in lending decisions. Also they would take handwritten receipts on rent from roommates or boarders. I regularly saw “assistant managers” at McDonalds with income of $75K. Unstable residential and work histories were ignored. Assets were not needed. Overtime income was included in income determination and mortgage payments could be as high as 55-60% of your gross monthly income.
Add to the mix the house flippers who conspired to have rentals made into owner occupied home on the loan applications to ensure a lower interest rate and almost never put down more than 5%
Then you had the loan originators (officers) were former car, cell phone, and gym membership salespeople who had sufficient sales skills but maybe a week of formal training at most.
There are many villains to this catastrophe-all driven by greed but I only saw at the bottom: Borrowers willing to look the other way to get a refinance or a purchase home. House Flippers (”investors”) looking to make fast money. Poorly trained and greedy loan originators who had one loan per month so they had to make every loan go through no matter how bad. Mortgage brokers (the originators bosses) looking to make money to finance their own house flips. Mortgage Companies that would take any deal with a pulse.
Comment by LCRW — September 29, 2008 @ 3:12 pm - September 29, 2008
the video has been pulled by youtube!
Comment by CraigT — September 29, 2008 @ 3:35 pm - September 29, 2008
could anybody post an alternative site for the video?
Comment by anonnemo — September 29, 2008 @ 3:55 pm - September 29, 2008
The Title of the Video is “Burning Down the House”.. if you search for that , i’m sure you’ll find others.
Comment by Vince P — September 30, 2008 @ 2:31 am - September 30, 2008
By the way, the video was pulled by YouTube because of a copywrite infringement claim by Warner Music Group — undoubtedly over the background music.
It is purely coincidental, I am sure, that this video was featured on Drudge and that Warner Music Group CEO, Edgar Bronfman Jr, is a MAJOR Democrat campaign contributor.
Comment by American Elephant — September 30, 2008 @ 2:25 pm - September 30, 2008