One Million have viewed this YouTube Clip
 

I know this has been posted, but I didn't want the attention of the viewer numbers to get lost!

Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis

http://www.youtube.com/watch?v=_MGT_cSi7Rs

Re: One Million have viewed this YouTube Clip
 

This video puts things in pretty clear perspective... (if this is the one on the hearings. i can watch it at work)


Some are suggesting that these small loans to poor people is not the problem. that there simply arent enough of them to really matter.

but that is really a misdirection.

The Federal Government using the force of law, created regulation that reqiired banking institutions to offer loans to people who had previously been unqualified.

The stated goal was to get poorer people into home ownership. So Banking institutions created new types of loans that would allow these people to get loans.

that was the launching pad. Fannie and Freddie further complicated is by buying up these loans encurraging more of them, then based on the fact that everyone considerd these mortgages to have government backing, Fannie and Freddie sold many of them into the market.

Complicating matters was the fact that the Fed kept the federal funds rate exteremely low, thus allowing even more sketchy loans to inter the system.

then, once these new "instruments" had been created to service this government demanded segment, those loans were "out there" for anyone to take advantage of. Middle Class people and even businesses all the sudden qualified for loans that were vastly larger than they had previously been able to qualify for.

Now these loans, that were created to get poor people with bad credit into home ownership were being offered in general to everyone.

and everyone thought it was a good idea. This is the snowball.

The root here was the government regulation that required banks to come up with ways to loan money to unqualified people but that root grew well beyond that because once a the cat is out of the bag, you cant shove it back in.

In the video, you will see Maxine Waters clearly praise Franklin Rains for comming up with these new types of loans.

Re: One Million have viewed this YouTube Clip
 

Oh, but they still point the finger at us republicans!, starting with Nanci Peloski .(sp?)

:pullhair

Re: One Million have viewed this YouTube Clip
 

LOL! personally I would be offended with you if you spelled her name right!

Re: One Million have viewed this YouTube Clip
 

Someone wanted me to tell you that you can continue your lies and scare tactics, but he and other Obama supporters will continue to blindly believe the mouth of the Prophet and pull the lever in his favor.

Re: One Million have viewed this YouTube Clip
 

Who? LOL!

Re: One Million have viewed this YouTube Clip
 

This one has also been posted here, but I'm including it.

10,000,000 hits!!!!

http://www.youtube.com/watch?v=TG4fe9GlWS8

My son just watched this. He said, "Nice!"

It is about National Security!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Re: One Million have viewed this YouTube Clip
 

http://www.youtube.com/watch?v=1RZVw3no2A4


382,0000 hits