What Caused the Economic Crisis

In my professional role as a personal financial advisor I have been asked many times about the subprime mortgage debacle and the current financial crisis. I really can only pass on to them what I've read about it in the news and on the net; investment banking is not my area of expertise. But I have noticed some things...

If you're not an internet news junkie (guilty) and rely only on midstream media like the network news and major newspapers, it's damn hard to get a straight story. Today's news is full of midstream media obfuscation apparently aimed at hiding the Dem's preeminent role in creating the conditions that made the crisis possible, and the sabotage of two major legislative attempts in the last eight years to reign in the insane lending practices that fed the crisis.








Some things are clear.

• Ordinary citizens are forced to produce reports like that one, because the midstream media has no interest in telling the truth if it damages their biases;
• The taxpayers will be on the hook for billions, whether the administration's bailout package goes ahead or not;
• There are many many Bank executives leaving the scene of the crime with millions and millions of dollars;
• Except for conservative talk radio, Nobody is suggesting these Bastards go to jail;
• More than a few of those guys are now close advisors to Barrack Obama, some of whom have received TENS OF MILLIONS OF DOLLARS from Freddy Mac and Fanny Mae;
• The media cares more that John Mcain's campaign manager's company received 15 thousand dollars a month in fees from Freddie Mac, than that Obama's Financial advisors received TENS OF MILLIONS OF DOLLARS from Freddie Mac and Fannie Mae.

NOTE TO DISCERNING AMERICAN CITIZENS: YOUTUBE HAS REPORTEDLY DELETED THIS VIDEO TWICE. I've replaced the link with a new one to LiveLeak.

 HERE'S AN ALTERNATIVE LINK  at another less politically sensitive provider.