12 months from now when things are worse people will hate Obama as much as they hate Bush.
This interview is scary. I don’t know if these are cherry picked but the fact that they vote democratic and don’t know some of their own party representatives.. 3 of whom shot down attempts to regulate Freddie, Fannie is scary. While the problem is not only limited to Freddie and Fannie, both of these institutions were the underpinning, including the underpinning of the Banks own collateralization. The banks sell the mortgage off to Freddie and Fannie and buy Freddie and Fannie stock because it is deamed as ‘secure’ and pays a dividend in return. Freddie and Fannie drop.. the banks collateralization is at risk. In addition, Freddie and Fannie set the bar for what is considered near zero risk loan purchases. Everything else falls out at higher risk.
A little more.. ignore/turn down the sound-track.. some may find it irritating.. nice graphs though. Ignore stuff beyond 9:45.. because it gets political. You can pause the frames and look up what is posted to verify.
