The Enspire Learning Network ( http://www.enspire.net ) presents a visual demonstration of the changes in mortgage banking that led to the current financial crisis. To learn the basics of the financial crisis, watch our other video, “Understanding the Financial Crisis.”
Duration : 0:2:54
Tags: credit10 Comments
10 responses so far ↓
Nice work! Thanks
Nice work! Thanks
Glad you enjoyed it …
Glad you enjoyed it. Granted, it’s simplified, but we’re glad it has started discussion, especially in our first video you can see in the link provided. Thanks for watching!
That’s definitely …
That’s definitely one of the most informative videos I’ve seen about this subject. Thanks for posting it.
thehelpfund.blogspot
thehelpfund.blogspot
Very informative …
Very informative video. I took some notes on the video and how it was done. I gave it 5 stars. Check out our vids and tell me what you think? We have some good stuff also.
Actually CRA loans …
Actually CRA loans are still considered profitable; see the House hearing with law professor Michael S. Barr, a Treasury Department official under President Clinton. Additionally, the brokers mentioned in the movie above are exempt from CRA. Had CRA applied to them, they wouldn’t have been able to sell shoddy mortgages.
This is very true. …
This is very true. This is part of a series of videos exploring some of the causes behind the crisis. In no way were we intending to point out one guilty party, as the situation seemed to be a perfect storm of several different issues occurring at the same time.
We hope to do another video that will further delve into some of the other pieces of the puzzle.
Thanks for expressing a level-headed comment on the subject! That seems to be a rare thing to find on the net these days.
I think it is …
I think it is important to realize that there is rarely a single identifiable cause of problems of this size, while predatory lending was a major cause, so was the CRA (not all Clinton’s fault either)… there were plenty of other factors that contributed to the problem as well.
Great way to teach …
Great way to teach the basics! Thank you for focusing on the root cause of the crisis, predatory lending, and not mentioning what some falsely attribute the problem to (the Clinton act incentivizing Fannie and Freddie to give loans to lower class and minority people). It is clear that it is the predatory lending which is the problem.
First!!1!!11
First!!1!!11