Burning Down The House: What Caused Our Economic Crisis?

Discussion in 'Random Ramblings' started by CottageChicken22, Oct 11, 2008.

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  1. CottageChicken22

    CottageChicken22 Chillin' With My Peeps

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    Sep 17, 2008
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    Burning Down The House: What Caused Our Economic Crisis?


    Watch this.
     
  2. I have WHAT in my yard?

    I have WHAT in my yard? Chillin' With My Peeps

    Jun 24, 2008
    Eggberg, PA
    OK Let's get some of this straight. The Community Reinvestment Act did not FORCE banks to give huge numbers of loans to people who could not pay them back.

    It was designed to stop banks from red-lining. Besides CRA did NOT force banks to bundle those bad loans and then play hot potato with them! Deregulation allowed that.

    Blame Clinton, he played a role in this for sure by passing the Gramm-Leachy Act which dismantled some of the last laws which prevented banks and securities firms from doing precisely what they did - turn bank assets into securities which could be traded. Even so, having done this on the word of the baks that they WOULD NOT do this, it is the banks who in the end made the choice to trade this very risky commodity.

    Not the democrats who set up laws to encourage them to loan to poor people, not the democrats who ended some of the protections that were the left over laws from the last depression. And NOT the republicans who insisted year after year that the market would fix itself and that business could be counted on to do what was best for business and therefore best for the country.

    There is plenty of blame to go around. Learn the truth. ALL of the truth. Partisanship will not get us out of this mess.

    Pay attention to the iron law of oligarchy!!! Four hundred people control as much wealth as the entire rest of the country. Forget who voted for what. Pay attention to who is profiting from this now!

    It's not about politics, people its about who really controls the country and trust me it is no one you elected.
     
  3. CottageChicken22

    CottageChicken22 Chillin' With My Peeps

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    Sep 17, 2008
    SF Bay Area
    did you even watch it? did you look at the proof?
     
  4. wishin4chicken

    wishin4chicken Chillin' With My Peeps

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    Jun 20, 2008
    Hayden Lake, Idaho
    I watched it and intend to pass it along. Thanks for posting Cottagechicken22.

    Michele.
     
  5. mtnhomechick

    mtnhomechick Chillin' With My Peeps

    Jun 27, 2008
    Mountain Home, AR
    I watched it. It was so fast I couldn't read anything but the narration in between.

    Please come November......this is so tiring!!!
     
  6. wishin4chicken

    wishin4chicken Chillin' With My Peeps

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    Jun 20, 2008
    Hayden Lake, Idaho
    November may come and go but this isn't going to go away anytime soon.

    Michele.
     
  7. LuckysMom

    LuckysMom Chillin' With My Peeps

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    South Carolina
    I passed it on to my family but most of them are bound determined to vote for Obama no matter what I say.
    Since I am retired military as well as a teacher in a Christian school, I am voting where my heart is - with John McCain and Sarah Palin.
     
  8. CottageChicken22

    CottageChicken22 Chillin' With My Peeps

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    Sep 17, 2008
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    your welcome.......I don't want obama too win. God's in control though *Phew*
     
  9. CottageChicken22

    CottageChicken22 Chillin' With My Peeps

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    Sep 17, 2008
    SF Bay Area
    Thanks to wishin4chickens I found out there is a an updated version:
     
  10. Carolina Chicken Man

    Carolina Chicken Man Chillin' With My Peeps

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    Mar 29, 2008
    Raleigh, NC
    Will a moderator just go ahead and stop this thread now?

    It can't go anywhere but downhill over the next 10 pages or so!!

    I've got an idea, let's just talk about chickens instead of politics and economics.
     
    Last edited: Oct 11, 2008
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