Tuesday, September 30, 2008

Some links & resources on Fannie/Freddie bailout fiasco (Part 2)

Now, let's analyze the whole thing with some perspective and some common sense, shall we?

Ace takes us through a review of certain members of congress over the years:

Ace then questions the whole potential "credit crunch" meme that's been going around if we don't take the bait... ummm, bailout hook, line and sinker. His charts show that that is NOT the case.

Ace then goes on to show a video that charts the housing prices 1890-2008 (in the guise of a roller coaster for visual demonstration purposes). The years appear in the lower right corner of the video (you have to go to this link to watch it). At the very end is the actual chart/graph – it appears very briefly, but you can pause the video to get a better view of it. Remember that graph/chart when you view the last video (below).

Then via Moe Lane at RedState, Protein Wisdom takes us through a detailed accounting of the problem over the years with an effective 11-minute video that explains the housing bubble/financial crisis. It points to the CRA Act of 1977 (Jimmy Carter) which unhinged housing prices from the rate of inflation, then the January 31, 1995 executive order from Bill Clinton that relaxed the regulations and forced banks to supply risky loans, then to Fannie Mae & Freddie Mac, then to Obama. This video goes fast, so use the pause button repeatedly to see all the gory the details:

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