Saturday, September 27

"Bad Social Engineering" Caused The Credit Crisis - Video

Absent all other influences, a stable society would only loan people and businesses only as much money as they can afford to pay back.

But for some reason Democrats have been trying to implement socialism in the US through 'back-door' gifts to the poor:

Video Link (Updated 30 Sept.)

Personally, I think the Republicans have their share of the blame, if for no other reason than keeping their mouths shut about this, to this day. They should beat the Democrats over the head with this, especially since the Democrats have taken to blaming Bush for it, even though the seeds of this crisis were sown well before his Presidency, by Democrats (Pelosi: Dems bear no responsibility for economic crisis).

In addition, banks share in the blame, other lenders, all the fools who bought these securities, providing more funding to keep the game going, and right down to the 'poor lenders' who claim to have been taken advantage of. They share as much guilt as the most-guilty Government officials since they were the idiots who signed these loans that they were never going to be able to pay back. It doesn't matter if they didn't know they couldn't pay the loans back, that was their responsibility to know this. (And if they were not bright enough to understand the paperwork, they should have gotten legal council. But they never did, because that costs money!)

Found at The Jawa Report who found it at Ace, because "Viral attacks are where it's at in 2008!"

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davod said...

The video is gone.

Fred Fry said...

Damn! Thanks for letting me know:

"This video is no longer available due to a copyright claim by Warner Music Group"

I will correct it once the author fixes the video, which I suspect will happen quickly.