SUB-PRIME MARKETS AND STOCK MARKET CRASH SATIRE October 10, 2008
Posted by frostygirl in Humour.Tags: stock market crash, sub-prime
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British satire at its best a very simple, graphic, yet accurate explanation of why the whole system is collapsing. This is very funny, too. Go to the link below to enjoy this 8 minute satirical interview:
http://brasschecktv.com/page/187.html
(Oh, and by the way, apparently it was Clinton and his Liberal socialist cronies who introduced the silliness of Sub-Prime mortgaging – to grab votes from the likes of those described in the video.)
I hope you enjoy this and I give thanks to AfricanCrisis for posting this first where I copied the link from.
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Cuttingly true. But actually “subprime” lending started long before Clinton ever dirtied the Oval Office. It started (in the U.S. at least) in the late 1960s with “Section 235″ FHA loans (subsidized by the Federal Government.) Lyndon Johnson’s Great Society, not Dumbo Clinton. The theory was that everyone is entitled to own their own home (whether they can afford it or not.)
Nothing new. It has just snowballed of late. This is just to let you know that the American Taxpayer has been paying for other people’s mortgages for a very long time, not just this latest bailout.