Another good video about the economic crisis


Leo

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Good video.

In a nutshell.....

We're where we're at with the financial crisis because....

Not enough people of low-income and people of color were benefiting from the American Dream of owning their own home. So, in 1995, Clinton signed into law a revision of the Community Reinvestment Act - originally signed into law by Jimmy Carter in 1977 - and which required lenders to lower their lending standards. The result: the housing market which had been keeping pace with the natural course of inflation began to sky-rocket because of all the money out there for home loans. New homes were built to take advantage of the housing rush. Existing home prices went thru the roof.

You can only blow a bubble up so much before it bursts.

In 2003, President Bush asked for a regulatory overhaul of the lending and housing markets, specifically Fannie Mae and Freddie Mac. Democrats blocked that effort.

In 2005, McCain warned of a mortgage collapse and co-sponsored a housing regulatory act which the Democrats again blocked. And, again in 2007. Now we, the taxpayers, are faced with at least a 700 billion dollar bail-out of the industry. How much more will they need? How much will other industries need who were adversely affected by the crash of the housing market?

Osama and the Democrats are engaged in Socialism/Communism. It doesn't matter if you worked for it or not. It is solely about the re-distribution of wealth. Osama has surrounded himself with "advisors" who are the same people who created the crisis we face today and is willing to say anything he has to to get elected because he knows the average American is too misinformed and too lazy to check the information for themselves and will vote for the one who looks and sounds the best in the 15-second sound-byte.

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Intelligence? Please. An intelligent person would not put Obama in office...The facts are irrefutable. But that doesn't matter to you does it? Him being a good speaker and all.

I might add that before you gut check someone on their intelligence, you should take a look at your own maturity on some of the comments you have left around here about your candidate.

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That is a very good video Leo, so glad you shared it. Hope that any members with questions will actually take the time to watch it and pay attention to what the clip is saying. All the informtation in this video to the best of my knowledge is accurate.

Here is a link to the bill co sponsored by McCain in 2005 http://www.govtrack.us/congress/bill.xpd?bill=s109-190

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Obama. Osama. All the same. He's Muslim. He's Arab - not African. And, I believe he wants the same outcome for America as does Osama (there's too much out there about his thoughts on America and being an American). Radical Muslims have to attack us from outside. BHO will destroy us from within. His advantage? He was born to an American.

And, his wife is just as radical. Most pictures of her are with an angry look.

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