Regarding mortgage failures, someone on the Yahoo! boards posted an interesting clip from 2004.  The clip is mostly made up of C-span debates about the regulation of fannie mae, freddic mac, etc.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

The clip is obviously pro-Republican, but the content appears to be more than simple propaganda.  I would be interested in hearing the TK community's opinions on this peace.  The Bill Clinton clip at the end caught me off guard too. 

Snowman, race was the last thing on my mind when I posted the clip.  I agree in that the video seemed to single out blacks and one or two white Democrats.  However, I'm not sure if that was intentional because I'm not sure how much race has to do with their positions of power and opinions.   My point wasn't so much that I was trying to blame Democrats for the problem so much as there was discussion about this problem 4 years ago.  Yet, I've heard relatively little about what was said back in 2004.  I'd like to see the actual, unedited footage of what went on and who said what or hear from someone on TK about what went on and what was decided at the time.  Although it isn't inherently relevant to my current trading (I managed to get out before the giant crash today), I've been trying to learn as much about what went on as I can.  Out of the media, I usually get very vague generalizations about the current situation, so finding a youtube clip (although an admittedly biased one, as I pointed out above) on the situation made me want to find out more.

I watched the vote on C-Span today, and saw Pelosi's speech before the vote, and the Republican and Democratic responses after the speech.  It whole thing was silly, and went about like this:

1. Pelosi makes speech before the vote blaming Bush for economic problems.  This which angers a few Republicans, possibly changing their votes.

2.  Republicans accuse Pelosi of using the bill's introduction as a chance to blame Bush and play partisan politics, and then say the bill wasn't what they wanted anyway. 

3.  Democrats blame Republicans for being childish about the Bush remarks and for not passing the bill, despite the fact that 94 Democrats voted "nay" when only 13 more votes were needed to pass the bill.   They couldn't get 13 more votes out of the own party??? 

I mean, whether or not a person thinks the bill should be passed, the whole vote today was a fiasco.

Sort through the confusion is what I am hearing you say? There was a whole lot of discussion about it in 1988 too. Nothing was done to solve it? When a lie is told it casts a cloud over the whole world. We tend to back off or step back or do nothing when we are confused. I take confusion in stride now because the truth is I really do not know anything anyway. My point is this, we back off because we know that lies or the confusion created by them is evil! I felt Clinton was bad, but Bush (well his dad worked for the FBI, lies incorporated) is way over the top. Everyone is lying and it seems like it is O.K.

I have been oblivious to how the world works, was an addict until ten years ago. I only discovered all this information in the last year and a half. I have voted in every election, but did not have a clue who I was so I did not have a clue as who to vote for.

My opinion on this is it is Congress who is responsible to spend money (2/3rds vote). Not the President and definitely not the Treasurer Paulson. People do not seem to care who is responsible, they are more concerned with who will pay for it. That makes us a self-centered country. You know what I have found is nothing is really new. It has all been done before. People keep saying well this is different. It is not. They knew if they voted yes they would be voted out of office. It is just an attempt to sweep the CDS market under the rug a little longer.

Yes in 1929 we were the worlds #1 exporter in energy (oil too). However today we are the #1 exporter of Technology and higher education. We still have a lot going for us than just being the most powerful nation on earth.

We are addicted to 2 billion dollars a day (borrowed). About 7 dollars a person a day. We now have to give that up and start paying back 7 dollars a day. I feel it is really that simple. The only problem we face is will we do it willingly or have it forced upon us. The losses in the markets is already there it just has not been revealed. So will we face the music? The choice is ours to make!

Don't get caught listening to the music, because it will stop. I try to do the best I can do only because that is all I am capable of! Good luck trading!