Sanders supporters post deceptive video in GDP

[itsrobert]

They should be ashamed.


http://www.democraticunderground.com/12511427439

Here's the real story.

Now, who's exactly to blame for the housing crisis? Well, that's always a question that the press and people ask and I think there's plenty of blame to go around.

Responsibility belongs to mortgage lenders and brokers, who irresponsibly lowered underwriting standards, pushed risky mortgages, and hid the details in the fine print.

Responsibility belongs to the Administration and to regulators, who failed to provide adequate oversight, and who failed to respond to the chorus of reports that millions of families were being taken advantage of.

Responsibility belongs to the rating agencies, who woefully underestimated the risks involved in mortgage securities.

And certainly borrowers share responsibility as well. Homebuyers who paid extra fees to avoid documenting their income should have known they were getting in over their heads. Speculators who were busy buying two, three, four houses to sell for a quick buck don't deserve our sympathy.

But finally, responsibility also belongs to Wall Street, which not only enabled but often encouraged reckless mortgage lending. Mortgage lenders didn't have balance sheets big enough to write millions of loans on their own. So Wall Street originated and packaged the loans that common sense warned might very well have ended in collapse and foreclosure. Some people might say Wall Street only helped to distribute risk. I believe Wall Street shifted risk away from people who knew what was going on onto the people who did not.

Wall Street may not have created the foreclosure crisis, but Wall Street certainly had a hand in making it worse.

http://www.presidency.ucsb.edu/ws/index.php?pid=77081

[PeaceNikki]

1. From the James O'Keefe School of Journalism.

[BlueMTexpat]

2. Not at all admirable!

Those who do such things lose ALL credibility with me.

Thanks for correcting the record.

[liberal N proud]

3. BSer's disregard facts when they are feeling the Burn.

[ismnotwasm]

4. FFS.

[SharonClark]

5. SO over the top - thanks for the complete story

[lunamagica]

6. K&R. So much for his supporters being "honest"

[fleabiscuit]

7. K&R

[Haveadream]

8. I remember Hillary

talking about this way back when. She was sooooo worried and rightly so! She was sounding the alarm and no one was listening. I also remember this exact video being floated in that election to undermine her. So many anti Hillary memes from which she has already been exonerated are being unearthed and promoted as breaking news! during this election cycle.

[Hekate]

9. That's a helluva transcript, isn't it?

[UtahLib]

10. Thanks for the truth