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How The Democrats Caused The Financial Crisis!

Starring: Bill Clinton, Andrew Cuomo, and Barrack Obama(as a Community Organizer).

Most people aren't aware that Obama was fighting for "blacks only" to force banks to make risky loans. The Obama portion is located towards the last part of the clip.

What you need to understand is that Real Estate cycles in 10-15year intervals, and George Bush did not and could not have caused this economic crisis.

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Added: Apr-15-2012 Occurred On: Apr-15-2012
By: ScareCity
In:
World News, Citizen Journalism
Tags: Obama, Bill Clinton, Fair Housing Act, CRA, Community Reinvestment Act
Location: United States (load item map)
Views: 1663 | Comments: 37 | Votes: 5 | Favorites: 2 | Shared: 6 | Updates: 0 | Times used in channels: 3
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  • I know this becasue I watched it happen. Dems will never admit it.

    Posted Apr-15-2012 By 

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  • Only in America do we watch the economy collapse because our banks were loaning money to people who were completely unqualified to receive loans, and then a few months later we elect as president the lawyer who helped force those banks against their will to provide these subprime loans.

    America...truly the land of opportunity!

    Posted Apr-15-2012 By 

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  • Comment of user 'Amusing' has been deleted by author (after account deletion)!
  • I had no idea that Obama played a significant roll in the housing collapse until I saw this video!

    Posted Apr-15-2012 By 

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  • what next , they have free collage even if they cant fucken read , they get free housing just for them , free walfare and free free free , fuck that shit

    Posted Apr-15-2012 By 

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  • I'm tired of this left wing right wing shit.

    Posted Apr-15-2012 By 

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    • Comment of user 'IIVXTII' has been deleted by author (after account deletion)!
    • @bigoleboobs This isn't about right and left, it's about who cause the planets financial system to collapse and how...so we don't repeat the same mistakes.

      Posted Apr-15-2012 By 

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  • 5 fun pages of reading if you got the balls. ;)

    http://www.rollingstone.com/politics/news/bank-of-america-too-crooked-to-fail-20120314

    Posted Apr-15-2012 By 

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  • It is very um... strange (I could use a much more derogatory adjective) that if there is a rainy day now or gas prices go up, it is ALWAYS pres.Obama`s fault because he`s the President.

    On the other hand the 2008 economic crash was not in any shape or form pres. Bush´s fault, because he had been the president ONLY for 7,5 years.

    Posted Apr-16-2012 By 

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  • Bank of America and others caused this with their own bad investments. Taking money from the government and still buying bad loans and debt even after the meltdown. It was simply a matter of becoming the "biggest".
    Then after help was offered to Americans in forms of government loans, modifications, ect. they started a program at their institutions that penilized any employee for taking more then 10 minutes with a customer. Lost a lawsuit for billions after a forclosure scam, then rai More..

    Posted Apr-15-2012 By 

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    • @GradySizematters

      The banks are culpable, but it is undeniable that Democrats were putting intense pressure on the banks to make these loans. The Clinton administration was threatening all kinds of lawsuits, and the banks finally, begrudgingly, had to give in and provide the loans.

      The problem was that the banks knew that these were bad loans, so they didn't want to keep the loans on their books. They knew that when the foreclosures started, they would be utterly ruined. So they sold what t More..

      Posted Apr-15-2012 By 

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    • @buzzardist The hole they dug taking government money and buying already known to be defaulted loans is insane. Clinton nor any other administration forced them to do any of this. Giving loans to Americans for the "American Dream" are the intentions. Overinflating values, bad investments and rip off are the banking instituions ideas.

      Posted Apr-15-2012 By 

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    • Comment of user 'IIVXTII' has been deleted by author (after account deletion)!
    • @GradySizematters

      You obviously didn't watch the video. Clinton's HUD secretary was at a press conference stating plainly how they had forced a bank into a couple billion dollars in loans, and over the next few years Democrats in Congress dragged bank execs in front of committees again and again to excoriate them about not loaning more to unqualified borrowers. Meanwhile, community organizing groups were threatening and filing civil rights lawsuits claiming discrimination on the part of the More..

      Posted Apr-16-2012 By 

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  • one small problem, the recession was well and truly past the start line when Obama came into power. Also the only president in recent times to stop the deficit was Clinton.

    Posted Apr-15-2012 By 

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    • @Penguinister

      The point of this video, I think, was that Obama was a lawyer helping to sue the banks to force them to provide the subprime loans to poor people, which then caused the recession.

      As for Clinton, he was dragged into fiscal responsibility kicking and screaming. The American government shut down in the mid-1990s because Clinton wanted to spend more money and the House Republicans, led by Gingrich, wanted to cut more money. In the end, they made a good portion of the cuts and com More..

      Posted Apr-15-2012 By 

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  • Let's just pretend starting two wars and allowing the mass offshoring of American jobs had nothing to do with killing this economy?

    Posted Apr-15-2012 By 

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    • @EvilDeed Ahahahaaa! Those are pennies in the bucket compared to the housing collapse that caused an avalanche in finance.....Globally!

      Posted Apr-15-2012 By 

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    • @EvilDeed You're not pretending....you haven't a clue what has happened; the how and the why!

      Posted Apr-15-2012 By 

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    • @EvilDeed And the two wars that Obama is maintaining isn't helping things at all. The Housing industry will be in crisis again in 2012 due to Obama's moratorium on foreclosures in 2011. There was no feasible solution for these folks he helped put in this predicament and now all of those foreclosure will take place on top of the foreclosures naturally occurring in 2012. Obama is clueless!

      Posted Apr-15-2012 By 

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    • @EvilDeed

      We don't have to pretend. It didn't. The offshoring of jobs? Maybe, but that's something that started with the Clinton administration pushing through NAFTA and giving China most favored nation trading status and entry to the WTO. Conservatives were strongly against that, as were union Democrats. It was moderates and the establishment crowd that pushed those bills through. That probably had a small effect by weakening American wages and bumping up job losses, which can lead to f More..

      Posted Apr-15-2012 By 

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    • Comment of user 'Amusing' has been deleted by author (after account deletion)!
  • Category : Humor !

    Posted Apr-15-2012 By 

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  • No, it wasnt the 13 trillion spending on the war....hahaha...LMAO

    Posted Apr-15-2012 By 

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    • @mannixxx Actually the war on terror, including both wars + homeland security has cost 1.5 trillion since 2011! and projected at 1.8trillion to 2021 total! So do us all a favor and stop making shit up, OK!

      http://journalistsresource.org/studies/government/international/cost-iraq-afghanistan-terror/

      Posted Apr-15-2012 By 

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  • Yeah i feel financially strapped now, I'm still buying my groceries bchs
    Go Obama

    Posted Apr-15-2012 By 

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