UPDATE: Bumped up due to updated link. This video had been removed from YouTube, but we have a new link. Please spread the word. Please let us know if this new link goes bad, and we’ll find another one 🙂
Here is the main YouTube page for the maker of video for future reference.
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Your required viewing for the weekend. This is probably the best, clearest explanation of why we’re in the economic situation we’re in today. It’s about 10 minutes long, but worth it. (HT Catherine)
A note by Maynard
You can see the dilemma faced by lawmakers that tried to address these problems before they reached catastrophic proportions. To stave off disaster would be to invite the wrath of an angry mob. “See!”, they would scream, “There wasn’t a problem! The mean greedy rich people have once again robbed the poor! Shame! Throw the bums out!”
As they say, no good deed goes unpunished. Meanwhile, financial jackass Barney “Fannie Mae and Freddie Mac are not facing any kind of financial crisis” Frank remains chairman of the House Financial Services Committee, and the mess works to Obama’s political advantage. This stuff is beyond parody.
Hurray! Wahoo! Bravo! That was fab. Even horndoggie Blythe-Clinton admitted on GMA this week that he and his democrat pals “resisted efforts” by republicans to prevent this collapse during his watch. “Ah had an inappropriate relationship,.. blah blah”. Bwahny Fwank is also shown on You Tube slurring anyone who would try to rein in the big free-house-at-rent-prices giveaway during the last 15 years.
I’m e-mailing the link to all my friends in support, and to enemies just for the perverse schadenfreude, knowing they’ll never watch it all but will know it’s true.
Excellant link Tammy
that Video is extremely powerful stuff
amazing just totally amazing that our alledged Leadship would be that reckless.
McCain has to be Elected
Democrats have to un-elected for this debacle
I was just about to write you Tammy to urge you to headline this video. It may be the single most important 10 minutes every voter can spend in the coming days before the election. Americans hate corruption and Barak Husein Obama is the posterboy for it. This can and should cause the collapse and major reform of the Democrat Party.
I found it at our friends at Atlas Shrugs. Thank you for posting it Tammy. It needs to spread far and wide throughout the land.
What happened to the video? This was the most powerful and complete explanation that I have seen. Now it is “unavailable”.
I am very suspicious. Have the left wing top guys at Google taken this off? Have hackers done damage here?
Inquiring minds would like to know.
Tragically, this video is no longer available. There’s another copy at http://www.youtube.com/watch?v=NU6fuFrdCJY, but I can’t tell you how long it will last.
Apparently, FERDY, the answer appears to be “Not Long”. I guess the “Obama Truth Squads” decided to apply pressure on YouTube and “wash” the “truth”. Hmmmmm…”Obama Truth Squads”
I wonder when the “Truth Squads” will wander through McCain country and reinact “Crystal Night”. Everything that is old is new again, as they say….And I don’t post this lightly, the Nazi’s killed many of my “mongerel race” relatives.
I am 60 years old and I am feeling as if the country is slipping away from its Constitutional origins. The Liberal Fascist tactics of the Left are not recognized for what they are: the destruction of the existing Republic and replacement by an elite cadre of “Correct Thinking” leftist lame brains.
The amorality of the Left is unbridled and unchecked. We are headed for a showdown in the near future of all out cultural war for the survival of the Country.
The Left reminds me of the horror movies with the theme, “The Living Dead”, i.e., zombies with Other Directed controls.
Something smells fishy about this House vote ….
90+ dems voted “nay” …. McCain went bipartisan and called in many more than the original 4 who supported the bill ….
I’m thinking that dems have set us up for their pre-announced “October Surprise” — in which Obama will now rush onto the scene and in a flurry of self-elevating verbosity — single-handedly and miraculously rally enough votes to save the federal government, Wall Street, main street America, the Global Economy and planet earth from collapse!!!!!
wow.
Gingrich again calls on Bush to fire Paulson.
The TV screen on the morning after is full of White House beggars imploring and warning. “We have to do something!” That’s not quite right. We have to do the right thing or we’re sowing the seeds for more chaos down the road. Doing something isn’t the same as doing anything and it sure doesn’t mean it had to the bailout plan they attempted to shove down our throats yesterday. The financial crisis is real and we have to act soon but it has to be responsible, effective, specific to the problems. We have to keep separation of powers intact and maintain the Constitutional framework of our republic.
Sweeping authorization to spend huge sums of money for the sake of its psychological value has clearly been rejected by the American people. The carnival put on by Nancy Pelosi and the Democrats yesterday doesn’t bespeak a genuine seriousness on their part. I fear time will run out on the House Republicans who are putting up a fight to stave off an ill-advised, rushed solution. It isn’t just your typical government solution to shoot wads of money out of a cannon. There is an attempt to radically increase the size and scope of government. A mistake today will take generations to correct, if ever.
Well worth watching.I would have used music from a different genre since it shows what a smug punk Obama is.
I can hardly stand this, it makes me so mad. “Help us, help us. We made a mess Mommy and Daddy, help us clean it up.”
Anybody remember the cartoon “Mr Wizard” where the turtle would want to be something, get a chance and then get into some fix and call out for help?
Congress: There is no Mr Wizard! You screwed up and you need to give us a chance to figure a way out. NOW SHUT UP AND WORK!
I saw this on Fox last night, loved it because they played it quite a few times. I have yet to figure out not only how Barney Frank ever got elected to any office without his teeth, but why he STILL is even allowed to represent his party and serve this country. I think he has watched waaaay too many Irish tough guy movies…he’s actually quite creepie…
This is a classic case of the boy who cried wolf…pretty soon, no one is going to come to their rescue…I see an overthrow here and Pelosi and her Yes-men need to go…..
I see the goon squads of Obama removed that video. I hope the person that uploaded it is ok.
OMG I am truly frightened for this country.
The video is up once again! PLEASE share this video with as many people, of any political persuasion that you can- online & your own email list you choose. The new version is included below. The v3 is good, but this is a direct link, and a few added things to share:
“Burning Down The House: What Caused Our Economic Crisis?”
http://www.youtube.com/watch?v=1RZVw3no2A4
Great companion video:
“Fannie & Freddie: The Real Story Behind The Economic Crisis”
http://www.youtube.com/watch?v=68D9XrqyrWo&feature=related
See TheMouthPeace profile page videos on YouTube, including “Covering”:
http://www.youtube.com/user/TheMouthPeace
I wonder how a semi intellegent person could watch this video and not be so outraged by the incompetence that permeates the Washington left. I get so angry and sad at the same time. I am one of those middle class hard working Americans that wants the best for this country. I actually don’t mind paying my fair share of taxes to help the society in general. What I can’t get a grip on is how honest Americans can’t see past the smoke and mirrors of BHO! I am as independent as you can get in this country. I have not nor would I ever vote for a political party. I want what is best for this country. If you need a hand up, call me! If you need a hand out, move out!!! Where do we turn?
Good news.
While this doesn’t address Democrat corruption or reform government requirements which obligate banks to make bad mortgage loans, it will help the balance sheets of businesses across the board. The SEC said it is modifying accounting standards so that an entire three months worth of good transactions aren’t marked down to equal the very last transaction made which could be at the odd fire sale price here and there. When asset valuations are marked down below a certain point a company becomes under-capitalized and looses creditworthiness and therefore access to capital. Thus collapse ensues. It is my understanding that Sarbanes-Oxley imposed the offending rules after the dotcom bubble burst.
What we have seen is that some perfectly good companies look great one day, then because of one bad transaction the balance sheet of the company indicates total collapse. If you run a dime store for example and you sell a $10 item for 10 cents suddenly the regulator comes in and says that your entire company is now worth 1% of what it was before the bad sale. They tell you you’re finished and force you to sell your entire inventory to competitors.
After the SEC’s rule change the bad mortgage will still be there bad with less destructive consequences.
Here’s the announcement:
http://www.nytimes.com/2008/10/01/business/01audit.html?_r=1&ref=business&oref=slogin
The stock markets should react favorably.