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Location: Arlington, Virginia, United States

Friday, September 26, 2008

Watch & DISTRIBUTE

14 Comments:

Blogger John said...

Very damning video, and, if true, Obamas's toast.

But then Obama himself volunteers to get to the bottom of it (i.e. the mortgage meltdown) during the debate, and it didn't look like he was trying to hide the kind of magnitude of guilt he would have if the expose' is true (which doesn't necessarily mean that he's innocent, but he'd have to be a virtual psychopath to be guilty as Youtubed and remain so unflappable when Fanny & Freddie specifically came up).

Meanwhile, when Fanny and Freddie did come up-- assuming that Mac (and/or his advisors) knew what happened (as dot-connected in the expose')-- you would think that he would take the opportunity to insinuate things, drop a few names, play headgames, and make Obama paranoid and knock him off his game (if not come right out and point "YOU'RE PART OF THE PROBLEM!"--as the expose' makes clear), but he did nothing of the sort.

Which can only mean that:

1) It's true, but McCain and his advisors are oblivious to it (which is hard to believe, but must be so as Mac took every other opportunity to tattle-tale).

Meanwhile, by expressing his desire to get to the bottom of it, Obama must have been engaging in reverse-psychology to preemptively get in front of it.

2) It's true, McCain knows about it, but Obama has his own dirt on him, and he knows that too, so they have a M.A.D. (i.e. mutually assurred destruction) deal to just not go there

3) It's false

Those are the only possibilities I can think of vis-a-vis the Youtube expose' in consideration of the comportments at the debate.

10:19 PM  
Anonymous Anonymous said...

I have not watched the video, but just
wanted to clarify
something

Fannie and Freddie were both a problem - both McCaina and Obama have ties.

McCain is more tied to both - but that's just because he has been in DC for longer - So don't hold it against him.

But note - Fannie and Freddie are less than ten percent of the larger problem.

The big mortagage problem were subprime loans and no doc loans.

Fannie and Fredie did not engage in those loans - they lent to middle class people.

Subprime and no doc loans and credit default swaps were from Mortgage Banks and to a lesser degree Investment banks.

Derivatives - not Fannie and Freddie comprise 95 percent of the problem.

12:44 AM  
Blogger John said...

Noted. Please watch the video, however. It connects the dots well.

9:59 AM  
Blogger FJ said...

Fannie and Fredie did not engage in those loans - they lent to middle class people.

You mean half their loans in 2000 went to middle class people...and only 44% starting in 2004...

11:47 AM  
Blogger FJ said...

As the linked article from 1999 indicates, the money for subprime loans didn't come out of thin air. It came from Freddie and Fannie.

11:49 AM  
Blogger FJ said...

...and I think McCain knows that this argument is WAY too hard to explain to the public, and that Obama wasn't around when this ponzi scheme got started, and that's why he doesn't go after Obama.

Barney Fag, on the other hand, should be burned at the stake. His fingerprints are ALL over this.

11:54 AM  
Blogger Kelly said...

I have just finished a real estate course in pursuit of a real estate license.

Fannie and Freddie are actually a large part of the problem..and those who turned a blind eye. There are two basic housing lending markets. The primary and secondary. Banks, mortgage companies, et al are the primary lending market. They are who we as borrowers go through to get loan. They in turn sell those loans to the secondary lending market such as Freddie Mac and Fannie Mae to get more money to lend out. Freddie and Fannie will only buy those loans that meet certain criteria.

They entered into risky behavior by lowering the standards by which they would buy up those loans.

Those who made it easier for these companies to engage in this risky endeavor are key factors here.

1:37 PM  
Blogger Kelly said...

FJ, I agree. Trying to explain what went wrong is not something you can do in a few words.

1:39 PM  
Blogger John said...

This video was yanked.

12:57 PM  
Blogger FJ said...

You Tube and Warner Music Group today pulled a highly popular video that very succinctly and clearly spelled out the roots of the current economic crisis.

The 9:59 video entitled "Burning Down the House: What Caused Our Economic Crisis" played four different songs under a fast moving video sequence that very clearly tied Democrats like Chris Dodd, Franklin Raines, Jim Johnson and Barack Obama to policies and corruption related to Fannie Mae and Freddie Mac. It cleverly showed how the "affordable mortgage" programs sent an economic virus through the entire economy and showed Republican efforts to intervene and regulate being blocked.

For Obama and all congressional Democrats, it was a devastating video.

The video had almost a perfect viewer rating and had been viewed some 1.2 million times according to the You Tube counters. Sometime around 3:45 EDT the video disappeared with the banner saying "This Video is no longer available due to a copywrite claim by Warner Music Group."

This sounds to me a lot like another front in this war for the country.

Thomas Lifson adds:

Even though I wonder if Warner is so vigilant about its music being used for videos advantageous to Democrats, there is a perfect right to object to appropriation of intellectual property. Music is a business, and if you use someone's music you have to pay a royalty.

Simply re-post the video minus its music soundtrack, and see what happens. Ot use a soundtrack of music in the public domain. I suggest Vivaldi's Four Seasons, which has a driving beat of its own in various places.

Update: Daniel J. Bianco writes in, poiting out that head of the Warner Music Group's political contributions this year are going exclusively to Democrats.

4:25 PM  
Blogger FJ said...

Here's a copy.

4:38 PM  
Blogger nanc said...

john - o.t. - gwen ifill, of pbs, will be moderating the palin/biden debate - can you believe it?!? she's an obama shill!

9:16 PM  
Blogger John said...

Thanks fj. Done.

I know, Nanc. And did you see how Katie Couric looked at Palin during the interview?

And the underlying hate in Tina Fey's SNL portrayal?

3:19 AM  
Blogger nanc said...

it amazes me how hateful some, if not most - oh what the hell - all of the people are on the left are before they even get to know a person - i'll never get it. that makes me happy...*8]

5:28 AM  

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