There is a lot to absorb about the financial crisis that the nation finds itself in. No one can be certain what the best remedy is to get the credit markets unstuck and to keep the economy from falling into recession. Hopefully, what is hammered out this weekend will start moving things in the right direction.
However, how we got into this mess is not so difficult to understand -- good intentions and venality run wild. Democratic housing programs for the low income and minorities spun out of control and Democratic supporters of the programs successfully blocked efforts to rein them in and keep them from exploding. "Affordable housing" was not affordable.
This ten-minute video tells the story. There is a lot in it. To read some of the quoted articles, just push the pause button. Massachusetts congressman Barney Frank is of course a featured participant, since he was a key player in blocking reform in 2003 and later.
As for accuracy, the maker of the video invites one and all to check the facts by googling or however else one wishes to proceed.
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