Who is responsible for the economic crisis

Copy and paste this link into your web address bar.

http://www.youtube.com/watch?v=1RZVw3no2A4

Copy and paste this link into your web address bar.

http://www.youtube.com/watch?v=1RZVw3no2A4

If you rely on posts like the one above (or mass emails) to educate yourself in order to form an opinion on who is responsible for this fiasco we find ourselves in, count yourself as mis-informed. Admittedly, if you are not an economist or in the financial industry, this kind of detail-oriented stuff is hard to get through but you owe it to yourself to educate yourself. I personally don't like being lied to. By anyone. So when I get an email like this one (and I have received this one way too many times over the past week), I fact-check it. By and large it is BS with just enough hint of facts to be somewhat credible sounding. Hell, anytime you can take a shot at Clinton, why not? Right?

If you accept that YouTube clip as truth, you must also consider yourself either intellectually lazy or intellectually dishonest, if not both. Here is what Business Week magazine, which is pretty conservative by nature, says about the CRA and it being blamed for this crisis:

http://www.businessweek.com/investing/i ... reinv.html

One paragraph in that story stands out:

"The Community Reinvestment Act, passed in 1977, requires banks to lend in the low-income neighborhoods where they take deposits. Just the idea that a lending crisis created from 2004 to 2007 was caused by a 1977 law is silly.But it’s even more ridiculous when you consider that most subprime loans were made by firms that aren’t subject to the CRA."

But the snake-oil salesman who posted that on YouTube counts on the fact that you will just buy his crap without investing any of your God given ability to investigate and find out for yourself that the CRA was at its strongest during the Clinton years and it was our current President that has weakened the CRA oversight consistently since 2001.

Also, just SG14, Wikipedia should not be considered a sole source of truth always. Any one with a computer can update (distort) most any entry you find there. It happens on a daily basis.

My .02

http://www.businessweek.com/investin...ity_reinv.html

My apologies. I didn't realize that I had to take an extra step to post a url correctly.

Who is responsible for the economic crisis?

Answer: That moron George Bush and his corrupt administration! Any other questions slick?

Look here for the answer.

http://vodkapundit.com/?p=10199

Look here for the answer.

http://vodkapundit.com/?p=10199

Or look here for the inconvenient truth. Us News and World Report trumps your vodkapundit, puke. Rick Davis is McCain's campaign manager.

http://www.usnews.com/articles/opini...in-a-poll.html

Do yourself a favor, idiot, and look to something beyond a poorly slapped together video if you are looking to educate yourself with something resembling truth. Of course, that would rely on you actual reading something. You'd rather be spoon-fed obviously.