This is an interesting video which gives a pretty convincing argument, albeit a highly biased one. Take a look HERE and see what you think about what caused this current mortgage crisis. I must note that the 2nd half is more or less politically motivated and is obviously a McCain fluff piece. However, the base message to be taken away is a common theme of mine--unintended consequences of legislation. A great concept (getting people into houses) morphed into something that no one could have forseen. I am not a fan of this highly partisan mess we call Congress. For that matter, I wish our "leaders" (a very loose term!) would read the book "Term Limits" by Vince Flynn. No, I don't recommend such a radical course of action, but I sure wish our "officials" in DC would remember that they are elected to serve our country--not to pad their pockets or focus solely on re-election.
Wow, this really turned into a political rant! That was not my intention but when you see the mess that we're in today, it burns me up and blame is shared across the board-from DC to NY to unscrupulous lenders, etc. It's a mess, but hopefully this bailout bill will manage to somehow put us back on solid financial footing. We'll see; not so confident that it will be the 'magic bullet' needed but as the talking heads are repeating "Something needs to be done". Something, indeed....
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