The cause of our financial crisis (Jimmy Carter's CRA)

Jimmy's Community Reinvestment Act forced .gov to back bad loans. George Bush tried to stop them in 2003, but fannie mae/freddie mac had powerful Democrat friends in the Senate who stopped him: Barney Frank, Chris Dodd, and Barack Obama.
John McCain tried to stop them in 2005, but was blocked by Senate Democrats when he sponsored the Housing Enterprise Regulatory Act. He tried again in 2007.
Jim Johnson and Franklin Reins bankrupted these companies: what did Obama do? HE HIRED THEM INTO HIS PRESIDENTIAL CAMPAIGN!!!!!!!!!!!!!!
- video encodings still in process -

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By: KABAvideo (64.34)

Tags: jimmy carter,subprime,loan,economic,financial,meltdown

Location: Green Cove Springs, FL 32043, USA

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