this proves nothing but the glaring exposure that "politicians" do NOT work for the people,and a clever use of video to manipulate the viewer into buying into the media created polarization of "dems" and "repubs".this video reveals nothing of import,and gives not one piece of coherent context.the current crisis has been an inevitable result of legislation that began in the 60's.both parties are culpable,but neither will accept responsibility,instead choosing to use this crisis as a political ploy to hammer the citizens of america to keep buying into the paradigm of "republican vs democrat.its a sham meant to divert our attention from the REAL culprits and to ignore that fact that these people are STEALING.not only do they prey on our ignorance,they count on it.

I was hoping I would get a partisan counterpoint, enoch. I know this guy is clearly biased. But since the video is what it is, it makes enough of a point to beg the question: Just to what extent is the corruption, and what part do the Republicans play in this?

I agree, this video is misleading. The topic of discussion here was Fannie Mae violating accounting practices, the CEO of Fannie Mae (Frank Raines) is not an Obama economic adviser, and the Republican had a majority in both houses of Congress in 2004...how could the Dems have stopped them from fixing this?

I'm not saying there isn't a possibility of corrupt Dems protecting the practices of Fannie and Freddie here, but that has pretty much nothing to do with the current crisis, which is all about these mortgage-backed securities, and the ability for banks to do credit default swaps -- something Republicans kept strictly deregulated.

Republicans want to blame Democrats because they'd wanted to encourage lending to minorities and low-income neighborhoods, but they had written literally into the bill that banks do not and should not take on loans that they saw as threatening to the financial stability of the bank.

With Credit Default Swaps, they could take on risky loans, and pass them off to other institutions, then make more risky loans, and pass them on, etc.

The problem wasn't the loans, the problem was that everyone built further investments on these loans as if they were risk-free, and they weren't.

*kill it. I've had enough for today.

Permanently discarding this video - kill requested by submitter swampgirl.