its the kind of movie that angriest up the blood .
It's about some guys who saw the housing bubble burst coming in 2007 , and how they cashed it .
They ain't the bad guys either . The behavior of the banks and sec was rediculous . And of course they all got bailed out , no one went to jail.
Makes you a Bernie Sanders fan .
Both parties supported the bail out.
In 2004, it was Republicans fighting to investigate the practices that led to the crisis. Dems fought them all the way and claimed there was no problem with Fannie or Freddie. Republicans wanted more regulations and oversight. Dems didn't want anyone looking into them too closely and they accused people of racism for not wanting people to own homes and they said it was a lynching of Franklin Raines, who helped drive the bank into the ground with the foolish practices before leaving with millions in bonuses. The whole crisis initially began with the Clinton administration, who took Carter's Community Reinvestment Act and put it on steroids. Banks were told they have to offer loans to previously redlined areas.
Dems made the toxic loans happen by backing them all with tax payer money. They knew the loans were bad from the start and yet they bought and traded them as if they had value. They knew better and they had to know things would eventually come crashing down. They package and sold loans that weren't worth the paper they were printed on and it became a game of hot potato with no one wanting to get stuck with the worthless loans.
In the end, everyone was screwed. For a while, the banks did great and a few came out unscathed because they knew how to play the game that they were forced to participate in. Dems were using Fannie and Freddie as slush funds. Obama received the second highest amount from the banks. Dems own it and anyone willing to look back at the facts cannot claim otherwise.
