The REAL reason for the crisis

T minus 2 months. That is the amount of time Barack Obama and the Dems have to blame everything from the current financial crisis to the Holocaust on George W Bush. Who will they blame come January when Barack Obama takes office and realizes that, without bankrupting the country, it will be impossible to keep his promises of free health care and higher education for all? Who will they blame when Barack Obama taxes small businesses so much that they are forced into huge layoffs and even more Americans are out of work? Who will they blame when the auto industry still isn't "bailed out" after the bailout? The Democrats will have no one to blame but themselves when in 3 to 4 years the US is suffering astronomical inflation, record unemployment and millions of retirees without any savings. Lets go back to the basic problem of this economy; banks are failing. Why are so many banks at risk of going under? Because they offered money to individuals unable to repay their loans. Why did they do that? Because Congress (led by Barney Frank), after being leaned on and bullied by the Congressional Black Congress, made Freddie Mac loan money to individuals with poor credit scores. Democrats in Congress and the CBC threatened Freddie Mac if they did not grant more mortgages to minorities and those who had defaulted on past loans. Their reasoning was as follows: unless lending rules are relaxed, people of color would not own homes in relatively equal numbers as whites. This is ludicrous reasoning. Mortgages are not granted based on skin color or ethnicity but based on the likelihood of the applicant repaying the loan vis-a-vis their respective credit score. This assumption by the CBC actually demeans their constituents by implying that blacks would not be able to obtain mortgages without relaxing the lending requirements. Furthermore, when Republicans in Congress began to see the writing on the wall and the crisis emerging as a result of Freddie Mac purchasing these sub prime loans on the secondary market, the Democrats stated that there was no such problem. All the while pointing the finger at the Bush administration for their failed policy. Its high time that Americans know the REAL reason for the financial crisis that we are in now. Most citizens are ignorant to the fact that the Congress and the CBC were doing this. The average citizen only knows that George W Bush is the President and we are going through hard times right now so he must be to blame. The above video shows what really happened. Those who voted for Obama thinking he will solve the financial crisis are sorely mistaken. Unless he reaches across the aisle and works with the Republican half of Congress, Barack Obama will be pushing already failed policies and the American people will suffer.