“What caused our economic crisis”

26 09 2008

This is a must see video (it is fast, so use the pause button generously).


I hope McCain/Palin will hit Barack Obama with this stuff in the future debates. It is a pity that McCain did not mention any of this, like, for example, his 2005 proposal, in today’s debate.

Links to some web pages from the video:

Other related links:

  • Rush comments on the video from 2004 Congressional Hearing. Here is a “great” quote from Frank Raines: “Because banks don’t — there aren’t any banks who only have multifamily and single-family loans. These assets are so riskless that their capital for holding them should be under 2%.” — Looks like WaMu and Wachovia did take his advice 🙂 … wait, or was it Obama who was taking Raines’ advice?
    BTW, here is the official transcript from the hearing shown in the video.

Update: NRCC has released a video about the Democrat’s (willful ?) blindness to the problems at Fannie Mae.

Update: Fox News: Saving Our Economy – What’s Next.

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