I'm going to have to call bull on this video. The regulators that should have been doing there jobs weren't doing it. They were calling for
investigations of Fannie and Freddie since 2003, but the committees in the senate blocked all attempts of it.
I'm sick of people trying to blame capitalism on this crisis.
This video is bull and is an example of the tragic result of this crisis. Capitalism is taking it on the chin and the masses are going to run to the
shelter of government to save them.
The tech bubble of the 90's and now the housing bubble / credit crisis are all systems of the real problem: the centralized control of the banking
system through the fed artificially manipulating interest rates and flooding the market with credit.
True there are a lot of corrupt or stupid businessmen who took advantage of this policy. But there are just as many if not more corrupt bureaucrats,
regulators and politicians who allowed or in some cases encouraged this to happen.
The system does not need more regulation it needs transparency and accountability. Unfortunately I do not see this happening anytime soon and things
will have to get much worse until we wake up and realize we can not count on the government to solve our problems.
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