The Crisis of Credit Visualized (Why we are in this mess in the first place)

Fixed Link ^

[jongaltsr]

Really simple (and may I say - accurate) Easy for EVERYONE to understand - no matter your background, experience and IQ.

[jongaltsr]

click on the “RED” stumbleupon.com text at top for video.

[jongaltsr]

Sorry, that did not work.
Try this (http://video.stumbleupon.com/#p=vj35jx9cl)
If anyone knows the HTML to post this site video, please let me know.
Thanks

[svcw]

A bit confused. The video was about a thief trying to get out of the door. How do I find that again? It just shifted to a different video.

[jongaltsr]

Sorry that didn’t work either.
I have no problem posting sites like this on Facebook but Free Republic doesn’t have the same HTML code.

[mnehring]

Linky no worky for me. What is the name and I’ll search YouTube.

[dalebert]

big old LOL on that one.

[jongaltsr]

The Crisis of Credit Visualized [2009][Greek subtitle] from koulis_pet on Vimeo.

[BARLF]

It worked fine for me.

[Misterioso]

Better luck on your next post.

[jongaltsr]

try the site posted just two down from your response.
Got it to work.

[jongaltsr]

go back and read post 8. Got it to work.

[Larry Lucido]

If you’re redirecting from youtube the post the youtube link.

[mnehring]

Watching now, thanks

[Larry Lucido]

And search to see if its been posted before on FR.

[MarMema]

Marking for later

[grapeape]

Didn’t they leave out all of the government involvement in the system. Like 1/2 of all the defaults were from fannie mae and freedy mac? Didn’t banks get special tax breaks from the government for these sub prime loans?

[Cyber Ninja]

My 16 yo niece will understand this.

Thanx

[jongaltsr]

Didn’t they leave out all of the government involvement in the system. Like 1/2 of all the defaults were from fannie mae and freedy mac? Didn’t banks get special tax breaks from the government for these sub prime loans?

What do you mean? The Government was involved somehow?
Just because they demanded that a large quota of sub loan packages were demanded by Barney Franks (et al) had nothing to do with the market crash. We ALL know it was just those greedy bankers that caused the problem.
At least that is the "story" congress (not a capital "C") is sticking to......

[RobRoy]

Heck, just go to youtube and search “crisis of credit”. It’s all over the place there.

[RobRoy]

Forget that video. You want a real eye opener? And I mean a truly life changing event?

Watch the video here: http://www.chrismartenson.com/

Click on “Crash course” on the left side of the screen.

It’s actually a series of short videos.

It just may be the most important thing you have seen your entire life. I’m dead serious.

[Blue Collar Christian]

bfl Thanx RR

[grapeape]

Ok, cool. So there was a quota system. Didn’t the banks suffer if they didn’t meet those quotas? How did the government hurt them?

[jongaltsr]

"Ok, cool. So there was a quota system. Didn’t the banks suffer if they didn’t meet those quotas? How did the government hurt them?>
The government regulates ALL banks. They make the rules and the Banks have to comply. The banks provided the loans and benefited in the short term even if they knew in their mind of minds that this was wrong to lend to high risk borrowers. A few loans (ok) but not as many as congress kept pushing for (They were aiming for 70% home ownership I believe - or something close to that).
So the banks made the loans and for a (very) short term they made good money, then the $hit hit the fan. I know there were thousands upon thousands of bankers who swallowed hard and said - "I knew we shouldn't have made all those risky loans". but it was to late to do much more than update their resumes.

[grapeape]

Ok, if a bank decided not to lend money to someone what would the federal government do to the bank? How would the federal govenrment even know about the no-loan?

[WashingtonSource]

bump