"These assets are so riskless that their capital for holding them should be under 2% ...

Yet another video showing who in America is to blame for the deceit that was Fannie Mae and Freddie Mac. The extracts are taken from a Congressional hearing in late 2004 and the contrast between Democrats and Republicans is stark.

I do realise that the MSM in both the USA and the UK will not cover this story; the agreed convenient "narrative" being that the economic disaster that we are living through is the fault of greedy bankers and Republican policies. However if enough free-thinking bloggers keep pushing the message, it may hit home.



Thanks to A Tangled Web for the spot.