Video Explanations...

A few days ago, a well-done video was posted up on YouTube explaining the origins of the current financial crisis. The video paid particular attention to the role of Congress in first mandating mortgages for non-creditworthy home buyers (they didn't call it this, of course – but that's what it was), and secondly in refusing to impose restrictions or even oversight when things started to go awry nearly ten years ago. Instead they did the opposite, mandating more of these “dodgy debts” – featuring new provisions even dodgier than the old ones (that's where things like the 120%, no down payment, no document mortgages came from).

I didn't bother linking the video because it had gone viral – every major blog (on both sides of the issue) was carrying it. But yesterday the video was pulled, ostensibly because of copyright violations (something not often encountered in political ads). Many who oppose Obama suspect foul play, or at least dirty tricks. Meanwhile, the video (slightly modified) is still available here – if you're one of the 14 people and 33 monkeys who haven't already seen it, do watch it...