It was an interesting special on the financial crisis, its unfortunate that it didnt take a more balanced tone. that said, its comments against democrats are obviously not without merit. I would certainly give them more credit had they been equally critical of republicans.watching this video more than a year after it was originally aired, its worth noting that some of the most important actors in this crisis, AIG, Lynch, Bank of America, are left out while Fred and Fannie (both obviously also important) are given most of the blame. this could have and should have been a MUCH better documentary than it turned out to be.

I mean... banks just loan money to people who can't pay it back (or probably forced to do so due to the law or whatever) so people will just buy homes way out of their league and then default it when they can't pay it. I mean in Asia you can't even get a loan unless you demonstrate that you intend to pay it back and have the ability to pay it back (usually proof of income and stuff) but the recent credit card thing made it too easy to get loans. The average American gets into huge debts by the time they finish collage (financial aids) then gets a nice house, car, plasma TV, and what have you and the debt just grows and grows, and they wonder why loan default rate just keeps getting higher and higher.This is one of the biggest reason why I rather not go into debt if I don't have to.

Don't be distracted by the Acorn stuff. Certainly, the Acorn connection is only a small part of the whole mess. But who would want to tell someone they "don't qualify for a loan?" Who would want to be so JUDGMENTAL!Especially when the "smartest guys in the room" had figured out how to slice and dice the mortgages to distribute the risk WITHOUT being judgmental. What a "wonderful" invention: NO FAULT LOANS! ...just like "no fault" auto insurance, the idea was that once the risk was sufficiently broadly distributed, then no one had to be actually held responsible if they later discovered they couldn't keep up with the payments.Once no-money-down loans were created, instead of simply being used to provide homes to the poor, SPECULATORS came in and bought homes with little or no intent to actually LIVE in the home... they were in there just to treat the home as an investment, assured by the "ever rising" prices on homes.AND THEN IT REALLY GETS INTERESTING... Be sure to listen closely to Professor Wright's lecture on the economic underpinnings and the "invention" of Credit Default Swaps supposedly "insuring" the mortgage-backed securities.We now realize that MASSIVE numbers of speculators took advantage of this system, bringing in massive sums of money from overseas investors, let alone all the "rich and powerful" in this country... the entire world economy was pulled down when the REAL risks were made known.Watch the whole thing! LOTS of mistakes made, not all by "bad" guys... on ALL sides... Clearly.... there are NO "experts" on Wall Street or in Congress, or in European banks or governments, or universities, or advising the world's richest investors.... were expert enough to see this coming. Reminds me of the CIA and their "slam dunk" certainty about Iraq's WMDs.... Are there ANY experts we can trust anymore?