Great video explaining market crisis and political tricks

Got this video emailed from Lars Larson and doing my part to spread the word.

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  • Rupert in Springfield

    Gee, government being in the mortgage business was didn’t work so well.

    And Gee, Politicians sold out the populace for power because there is a basic conflict of interest there. Who’d have thought?

    And now, more government spending to bail out government spending that should have never happened in the first place.

    And all a mere month before an election, how coincidental.

    Ever feel like you’re being cheated?

    Government overtaxing people then spending it to insure their power base. But the lust for power is never ending. Rather than admit failure, eliminate the spending, give up power its better to create a crises. More money from you impoverishes you, thus more aid from them is needed. Wash, rinse, repeat.

    Power without consequence.

    Effective

    Absurd.

    Those who look to government to do ever more should take serious pause.

    They didn’t run mortgages very well, you still want them running social security? How about your health care?

    People are seething, they know they are being robbed if their reaction to the bailout bill is any indication. We can only hope that the pitchfork and torch factories did not have a mortgage with Fmac and Fmae.

  • Richard Brown

    I am turned off by the video, it should be a web site with linked document so I can read them.

  • Richard Brown

    Video no longer available.
    Perhaps nothing but propaganda. Kind a sad it has potential but there was no way for me to very what was being presented.

  • eagle eye

    Can’t watch the video, I can guess what’s in it.

    Meanwhile: Republican President can only get 1/3 of his party to go along in the worst financial crisis since the Great Depression. A party in complete disintegration. The economy is spinning out of control and the Republican Congressmen think they’re saving the market economy. Just as I said a day or two ago, the men in the white coats will be coming to take them away.

    Meanwhile, McCain is blaming it on Obama, Reid, and Pelosi. We wait breathlessly for Thursday for Sarah Palin’s brilliance to save the situation. With the other moron Joe Biden. At least he is not completely incoherent so he can play straight man.

    I know this is taboo but wasn’t it the comedian Marx (Karl) who said that history is played out twice, the first time as tragedy, the second time as farce?

    It would be hilarious if it weren’t such a disaster.

    Heaven help us.

    • Crawdude

      EE, sorry but I do have to point out the over 40% of the Democrats voted no also. They are the majority party, they couldn’t get it passed? Sounds like another weak party!

      Your venom seemed to have over looked Obama, I’m sure it was just an oversight.

      Obama didn’t ride in on his trusty steed to save the day either. Though he was blaming McCain all week for trying to slow the process down, Perhaps if McCain had succeded, it would have given them all a chance to explain it to the American people.

      The majority of congress looked at this plan and said no dice. Ya think it might have been because they didn’t think it would work?

      I see all the talking head members from both sides were for it but the rank and file said No, generally that means it was a bad bill!

      • dean

        Dude…Obama is a smart cat. He uses his head, not his emotion. Why jump in front of a train wreck he had no role in creating, but that is likely to get him elected? McCain appears to be a hothead who reacts more than he thinks, and he lept in where he should not have unless he was actually going to see something through, which he wasn’t. He has exposed himself these last weeks as somone who is borderline irrational with an outsized hero complex. He has managed to make a young, inexperienced, unknown pol look like the only adult in the room.

        The vote went down because there is an election in a few weeks and “the folk” are in a pissed off kerfuffle over this. Voting no was not a profile in courage, nor was it a vote of principle for most. It was a neck saver, too bad if the economy keeps tanking.

        Eagle…you have it about right. Bush is worse than worthless at this point. His association with the bill probably doomed it. The Republicans are disintegrating, and the Democrats, who don’t seem to have much of a clue either, are happy to take a step back and watch the show, doling out just enough rope when called for. Especially the Sarah Palin show. My God. What will she say and how inchoherently will she say it next? I and the American people I talk to are just sick about it dontcha know.

        It is a hillarious disaster. Vintage Keystone Kops. If there is some good news, it is that we still have deposit insurance. The bad news is the dollars in those deposits may become worthless anywhere outside the US. I joked months ago we were going to become a very big Argentina. I’m no longer laughing about that.

        Rupert…how exactly was government “running mortgages?” The video is ferschtinkinum, so I could not watch it. I thought mortgages were actually “run” by private capital.

        And yes….I absolutely want government running my social security, and the health insurance system. The stock market is not looking better than SSI, and private health insurance is poised to go the way of the investment banking system.

        • Anonymous

          As even you must surely know, banks were forced BY LAW to lend money to deadbeats in the name of “expanding homeownership opportunities.”

        • Chris McMullen

          “Why jump in front of a train wreck he had no role in creating,…”

          Au conrtrair Deanie, Barry is knee-deep in this fiasco.

          https://www.nypost.com/seven/09292008/postopinion/opedcolumnists/os_dangerous_pals_131216.htm

          “ONE key pioneer of ACORN’s subprime-loan shakedown racket was Madeline Talbott – an activist with extensive ties to Barack Obama. She was also in on the ground floor of the disastrous turn in Fannie Mae’s mortgage policies.”

  • Anonymous

    Look how Democrats are Burrning down the house

    https://www.youtube.com/watch?v=H5tZc8oH–o

    This video moves quickly. Be prepared to hit PAUSE to study it as it goes.

  • Rupert in Springfield

    Dean

    >Why jump in front of a train wreck he had no role in creating, but that is likely to get him elected?

    He had no role in creating?

    God god man, would you at least take a cursory glance at the news and not simply read the latest action FAX from the DNC?

    Obama was the second largest bribe taker from Fmac and Fmae, only surpassed by Chris Dodd.

    You CANT and I mean CANT be unaware of this. No one could.

    >Rupert…how exactly was government “running mortgages?

    Oh my God, no one is this out of the loop are they?

    You really aren’t saying this are you?

    Ok, look, just don’t comment on mortgages or anything related to them until you look up Fannie Mae and Freddie Mac. I mean this is stuff most 20 year olds know, I really shouldn’t have to line you out on this.

    I cannot believe anyone runs around with blinders on to the extent your words would imply. I mean you cant seriously be this unknowledgeable about the basics of the current financial situation. How can you be this unaware of the basic mechanics of mortgages in the US? I mean seriously, the average present in Burma would at least be able to partially answer this question.

    Are you even aware we bailed out Fmae and Fmac? Do you even know what they are?

    Anyway……

    Being the inquisitive little sprite that I am I do tend to try and figure out how things that are, could be.

    This level of insularity is not explained by ordinary events, so, we must begin to look into the extraordinary.

    It is my conclusion that your existence, if I am to believe in it, disproves some aspects of Relativity, namely that as velocity approaches C mass approaches infinity. Somehow you have achieved faster than light travel and thus, though you exist now, you are in fact a person from the past who has come into the present time.

    • dean

      I may be a version of Shirley McClain.

      Yes….come to think of it I have heard of Freddie and Fannie. Until a month or so ago, private companies, financed entirely by private capital, decisions made to maximize profits. They were (are) secondary purchasers of mortgages created by other private companies with private capital loaned to private individuals under some regulations. loan…take fee….resell loan packaged with bad ones….Triple A rating from Moddy’s (also private,)….take new money…make more loans….take fees….re-sell…..hurry hurry before market tanks…..

      So explain it to me. How was government “running mortgages?” Government set up the end lines, then did not bother to referee the game. It was Barterville. Or hole in the Wall. “Rules? In a knife fight? No rules!”

      When my mortgage broker told me I could have xxx thousands of dollars at 5% interest if I would sign here, no bother with an actual appraisel because everyone KNEW the value of my place had doubled since I first bought it, no need to verify my income….Washington Mutual (ha ha) as the loan originator, how was “the government” running that exactly? No government dude in the room. No co-signer. no inspector. No nothing.

      Please to explain.

    • Chris McMullen

      It’s typical of OC’s resident Marxists to turn a blind eye to the facts. The facts are:

      • Fannie and Freddie are run by Democrats. Who, in-turn, reaped millions of dollars in bonuses and salaries. Fannie and Freddie are sponsored by the government and was defended again and again by Dems.

      • Bush and McCain tried to regulate Fannie and Freddie, but Democrats blocked it.

      • Obama received thousands in campaign contributions. Second only to Chris Dodd — another Democrat.

      • Obama also has very strong ties to ACORN, which intimidates banks into loaning to bad credit risks. Not to mention their fraudulent voter registration schemes.

      • Dean will continue to obfuscate and dance around the facts — just like any good liberal partisan.

      • dean

        Yes Chris. So tell me, how are Fannie and Freddie “run by Democrats?”

        And how did Democrats “block” Bush and McCain’s attempts to….er…”regulate.” Wasn’t Bush in charge of his own administration? He had no authority to regulate banking, stock trades, mark to market accounting? He was dependent on the minority party for his authority? Odd. Why bother winning elections if the minority party controls the outcome?

        What did those campaign contributions to Obama buy? Given Obama did not take office until 2005, and the housing bubble went pop in 2005, and given that Obama was in a Democratic minority of 44 senators at the time, what legislation did Obama sponsor and get passed that benefited Fannie and led to the buble bursting?

        And how many subprime loans did ACORN’s “intimidation” result in? How many of those are in default now?

        Let me see you dance boy.

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