How The Democrat's Criminal Actions Got Us Here

Liberals prevented financial reform for years and now shift blame to Republicans

Here we have a few videos from YouTube that highlight the actions that Democrats have taken over the past several years to prevent reform of Freddie Mac and Fannie Mae that might have saved us from having to deal with the credit and housing crisis that is now unavoidable. These videos make clear that this was, at the least, criminal negligence on the part of Democrats and at the worst outright theft and fraud. It is no accident that the FBI is now investigating these matters to find the cause of the current financial meltdown. The Democrats who were in charge have much to answer for and I think, in the end, we will see some prosecutions. Hello Franklin Raines who got a multi-million dollar golden parachute for himself before bailing out.

For the truth of the matter is that the Democrats used both Freddie and Fannie as their own personal piggy banks, getting sweetheart deals and massive campaign contributions while spreading a financial cancer through the banking system that now threatens to bring a serious economic downturn. All of this might have been prevented. But again and again the Democrats stood in the way while the house of cards was built higher and higher.

The first video is cut from C-SPAN footage and brings us the testimony of some of the major players in this scandal.

The second video puts together a wide array of information from the Internet that demonstrates how multicultural leftism was the philosophical foundation that allowed Democrats to push the banking system into giving away billions in loans to sub-prime borrowers that had little chance of ever being paid back. Charts and graphs ad to the story by illustrating the explosion of bad credit that has flooded the economic system and now threatens to bring the whole thing to a standstill. It is another tale of criminal irresponsibility that Americans should understand before they do something stupid in November like reward the party that was responsible for this mess in the first place.

Update: The Obama Nazis keep trying to ban this video and pull it down from the web, but the author, named TheMouthPeace, just keeps putting back up again. Good for him. As long as he (she) keeps it available, I'll keep the link up to date so you can watch it.