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Finally someone who fully understands the problem and isn't willing to play politics to cover up what is really going on.

The video is just under 30 minutes but worth watching every single second.

Once you watch this video it truly opens up the extreme danger our country faces. We have a corrupt administration, corrupt congress, corrupt financial institutions all working in concert to manipulate the truth and cover up the facts.

The real red flag from all of this is they didn't "fire" any of the CEO's, regulators, congressman, etc that were all part of this. Our biggest mistake was putting in the same exact people so they could spend massive amounts of our money to cover up all of their corruption. We may never get to the bottom of this and we need to hold the MSM accountable for completely ignoring the truth here.

Ideology has trumped all once again specifically from the liberal side of our country. But they are not the only ones to blame however they are the ones that are directly orchestrating the cover up and it begins with Obama and Geithner.

All of these people involved are frauds and corrupt and every single one of us is paying dearly for it.

Totally agree, I’ve been posting the link on different threads for the past couple days. It’s fascinating and disturbing!

They are eating their own at the “cause”

http://www.dailykos.com/story/2009/4/4/716470/-(UPDATED)-Please-be-smarter-than-the-Freepers.

Example:

“It is with great restraint that I comment on this diary without descending to ad hominem attacks on the diarist, although the whole tenorof the diary is an enormous ad hominem attack. However, what floors me is how anyone
who is closely observing the fiasco that is ocurring in “Wall Street” today can find anything that William Black said as incorrect. The diarist chooses to focus on the strawman assertion that Obama is engaging in criminal activity, while ignoring the more glaring conclusion that the Obama administration is now, for whatever reason, a complete tool of the failed oligarchy represented by the nexus of the former Clintonites-Bushites-and financial crooks that have caused Great Depression II.

It seems there are two kinds of people now active on DKOS. One, represented by the diarist, who are still so thrilled over Obama’s election, the obvious improvement over Bush, and the hope for the future, that they perceive any criticism of the financial bailout as a partisan attack on Obama, a massive form of concern-trollism. And the other group, those who agree with Paul Krugman, Simon Johnson, and now William Black that we are witnessing a massive collusion effort to restore the financial industry at the taxpayers’ expense and the country’s imminent chance of utter collapse. As for me, I supported Obama in every way, but the reality is too great too ignore and I believe we all better call bullshit, whatever the political consequences, before the shit rises above our eyes and
drowns us and our children together. I only hope there are enough people like Bernie Sanders in Congress to sustain any hope for the future!

by Arctor on Sat Apr 04, 2009 at 01:22:44 PM PDT”

Bernie Sanders...hope for the future...dwell on that for awhile.

http://freerepublic.com/focus/f-news/2222456/posts

By the way... PBS? You must be a troll. :)

Halfway in .... so far it’s Bush’s fault.

I just watched the interview with Black. It was pretty good.
Not surprisingly, he did not discuss the roles of Frank and Dodd in all of this. After all it was an interview with Bill Moyers.

" -banksters."

LOL

Black can blame the liar loans on the banks all he wants, but the premise is loaning money to those who do not have the means to repay it. Unless the loan agent edits the loan application to put on false data, it takes two corrupt parties, not one. Even in that case, it assumes the borrower pursuing a loan they reasonably cannot afford. This can be for one of two reasons: Ignorance, or greed.

There were many causes to the current crisis. It was a house of cards, built of many flawed parts, not a single cause.

Unfortunately, the vast majority of people want single cause, because that gives them someone or something to blame. They want a bogeyman. And if they can't get a cause or a bogeyman, they will find a scapegoat. This is human nature. Hitler and other dictators have leveraged it well.

Anytime anyone says "Glass-Steagall!", kind of like some people yell "Halliburton!", you know they are in the blame game. Few can explain how "Glass-Steagall!" caused anything. Nor did Credit Default Swaps cause this. If anything, the repeal of Glass-Steagall, which allowed commercial banks to enter the investment banking business should have allowed mortgage lending banks to keep mortgage backed securities in the firm, rather than sell them off to investment banks.

If there was a genesis, or more accurately, a catalyst, it was probably the changes to the Community Reinvestment Act. This relaxation of credit rules set the stage for the corruption that followed. Without the relaxation of credit rules, there is not a basis for liar loans. CRA was the butterfly off the coast of Africa. Today we are dealing with the hurricane.

Fraud is usually perpetrated against those who believe that a little corruption will profit them personally.
People who lied (just a little) to get mortgages they knew they shouldn't be getting didn't want to know about what the bankers were doing to them.
People who consistently received much higher rate of returns then feasible investing with an “insider” didn't really want to know how it was being done.
People who voted for candidates who promised them something without any explanation of how they were going to do it didn't really want to know any of the “details.
Most cons only work if the “mark” has a little larceny in their heart. We are becoming a Country of “marks.

bttt

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