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Monday, February 27, 2023

But few know the true story of the root causes of the “Mortgage Meltdown”.



The 2008 Financial Crisis was a seminal moment in American history. After a century of unchecked American economic dominance, the nation “came within 24 hours of melting down to the pre-industrial age”, as one of the world’s most respected CEOs put it a few weeks later.

The U.S. financial system had frozen due to a cash panic among banks. Short-term loans to small businesses and even cash withdrawals from ATMs were hours from completely halting.

Thanks only to the Federal Reserve’s last-minute injection of trillions into key institutions was the system rescued.

 But few know the true story of the root causes of the “Mortgage Meltdown”. Buckle up, because the truth is as interesting as it is painful.


READ THE REST and see the who's who of Democrats. <<<<


 h/t to Dave in PA who linked it in this post. By the way, stop over there and see the quick video.