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Tuesday, October 14, 2008

Having trouble keeping up with all the theories? Take a few minutes and watch this must-watch video. It explains much:

[h/t: Seva]

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Well, it's a big thing, this economic crisis. And YouTube populism sometimes turns me off. But not this time.

We have a debt-overdose problem in this country. (See my previous posting.) Subprime mortgages are one of the most "toxic" areas, because it was so heavily encouraged by Congress, including the bozos featured in this video: Chris Dodd, Barney Frank, et al. -- and the beneficiaries of the patronage and graft, including one Barack Obama, whose whole career was funded with Community Redevelopment Act money, known to us as Fannie and Freddie.

Awful stuff. In spite of occasional complaints and objections from Republicans and even a few Democrats, no one had the gumption to sound the alarm loud and long. No wonder people have so much contempt for Congress.

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