The video below is called "Burning Down the House: What Caused Our Economic Crisis?" and you can find it at YouTube.com. Embed it in your blog or website. The public needs to know the truth about what caused the mortgage crisis and the financial crisis that followed.
It's simple. Democrats lowered lending standards for Freddie Mac and Fannie Mae so that minorities and poor people could buy homes without meeting the usual standards of income and down payments. This caused a run on home buying, pushing the prices of homes through the stratosphere. When the new buyers couldn't afford to pay the mortgages, they began to default in record numbers. Suddenly there were many more home sellers than there were buyers and home prices plummeted. Financial institutions who invested in or insured these mortgages went bankrupt as a result. The Democrats caused this mess by interfering with the free market and we are all paying the price today in the form of a weakened economy.
Yes, if you want to put the fox into the hen house to cure the chicken shortage, do vote for Democrats and Barack Obama. That'll fix it for sure.
You can get the embed code for this video here. Do it. Spread the word.
Saturday, September 27, 2008
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