Video about Senator Obama and the economic crisis

In searching the internet for information on the current economic crisis, I came upon this video. It shows a link between Senator Obama and the economic crisis. Since the economy is a huge part of this election, I thought it would be relevant here.

Burning down the house.

In order to deny ignorance, we have to look at all the information and all the possibilities.

Flagged and starred.

Very controversial, to say the least. Obamaphiles will hate it. McCain supporters will be up in arms over this.

All in the name of affordable housing, and of course there was no way for Republicans to oppose this for fear of being labeled racists.


Here are the top recipients of campaign contributions from Fannie Mae and Freddie Mac, 1989-2008:

1. Dodd, Christopher J D-CT $133,900

2. Kerry, John D-MA $111,000

3. Obama, Barack D-IL $105,849



source

They couldn't counter the success of the Iraq war so instead they focused on the economy and screwed it up, royally.
It's all a game of deception and people are buying the story.

Like I said deregulation wasn't to blame. Loaning to people who couldn't afford to pay back is. That points out a lot of things that the MSM seems to cover very little. But as long as they can sensationalize headlines and make big bucks during this crisis, why should they care how the crisis really got started.

I don't like either Obama, nor Mccain but this video raises some serious issues. A definite must watch before voting.

reply to post by jam321


There will always be vultures waiting in the trees to take advantage of legislation enacted to help low income families.

As stated in the video; three times the Republicans introduced legislation to bring the CRA under control and all three times the Democrats blocked it.

Why?

Everyone should watch this video.

reply to post by Aislin


It seems that an investigation into Fannie Mae and Freddie Mac as well as the sub-prime housing crash is not the priority of the media.

Enron was a $80 billion or so mess. Fannie and Freddie is a $700 billion mess and counting. Enron was all over the news with investigations galore. I can almost hear the crickets chirp when it come to an investigation into what can be the largest financial mess in U.S. history.

If the poison of Fannie Mae isn't dealt with, the cause of the mess right now will only fester and create something bigger.

The American people deserve a full and immediate investigation into the sub-prime crash.

reply to post by Aislin


They blocked it cause they were looking after their friends.

They were even shouting that it wasn't that serious.

If they were anywhere near honorable, they would resign ASAP.

But that would be asking too much of our elected representatives.

Originally posted by jam321
reply to post by Aislin

 

They blocked it cause they were looking after their friends.

They were even shouting that it wasn't that serious.

If they were anywhere near honorable, they would resign ASAP.

But that would be asking too much of our elected representatives.

We elect these people to represent us. Its up to every voter to keep track of the legislation that their representative is voting for or against. We have to let them know that we are watching what they are doing. We have to hold them accountable.

I guess we have a pretty hard job.

The media is not saying a peep about the community reinvestment act nor Obama's and the Democrats ties to Fannie and Freddie and nor their history of blocking reform that would have saved the economy from a lot of grief.

Thank God for email though, the video opened a lot of people's eyes among contact list, although I don't know if that helps in a state like California.

The bail out legislation has instigated communication from voters who, in the past, had never before contacted their Congressmen/women or Senators. Hopefully, everyone will see the need to keep a vigilant eye on their representatives.

Before you vote for any candidate, look into their voting record. Don't make up your mind by just listening to them. Don't make up your mind from listening to the MSM. They can say what we want to hear, but do they act accordingly?

Here is a thought.
Someone please correct me if I'm wrong but I thought Sarbanes Oxley was enacted to have kept things like this from ever happening again.

So much for that.

Originally posted by Alxandro
Here is a thought.
Someone please correct me if I'm wrong but I thought Sarbanes Oxley was enacted to have kept things like this from ever happening again.

So much for that.

Starred.

This is a great post and absolutely correct!

So, how did all the regs in S-Ox let us down?