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All Da King's Men

Review: Mortgage Meltdown Video

By Da King Published: April 27, 2009

The standard Democratic version of what caused the financial crisis is - a lack of regulation from the Bush administration, you know, all those "failed policies." That's a convenient story for the Democrats, but let's briefly review again what happened with Fannie Mae and Freddie Mac, who together bundle and securitize 60% of the mortgage loans in the country. Remember, it was the mortgage industry meltdown that started the financial domino effect. Here's a video you've never seen on NBC, CBS, ABC, MSNBC, CNN, or any of the rest of of the "unbiased" mainstream media.

Now ask yourself why, seven months AFTER the financial meltdown, there still haven't been any regulatory changes at Fannie Mae and Freddie Mac. The only change has been to bring the bankrupted former Government Sponsored Enterprises under full government control, thus formally making the American taxpayers fully responsible for them. Also ask yourself why, seven months AFTER the financial meltdown, has the government still not implemented any mortgage loan standards for the financial industry ? The banks are largely implementing mortgage loan standards on themselves, but the government is actually trying to get the banks to loan money as indiscriminately as before, in order to "get credit moving again." Banks are even being criticized by the government for not making loans that the banks deem too risky.

Finally, ask yourself why, seven months AFTER the financial meltdown, is Barney Frank (D-MA) STILL the head of the House Financial Services Committee ?

In related news, read about how President Obama's first 100 days come out to a cost to taxpayers of $65 billion PER DAY (and that's a conservative estimate). Of course, there's no possibility that could EVER be a problem. Heck no. Obama's cool, and with all his vast management/economic education and experience (NONE before now), what could possibly go wrong ?

And to think, liberals keep asking what all the Tea Party protests are about. They don't understand. They're baffled. Un-be-liev-able.

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