Also although I enjoyed the video, also discussed Fannie/Freddie, they didn't go much into the causes of the problems which is being blamed on everyone from Presidents Carter to Clinton and Bush, from the Community Redevelopment Act to the Gramm-Leach-Bliley (deregulation) Act. There was an disappointingly brief reference to sub-prime mortgage loans such as interest-only for 10 years, 40 year loans, and even loans where principal increases.

Another area I foresee as seriously flawed and problematic, that hasn't -- to my knowledge -- come to light yet, is the student education loan situation. Families and future income earners have been buried in high cost educational loans. College has turned into serious money-making business, leaving families and students ill-equipped to earn a living after graduation, and floundering to pay back their debts. Mark my words, this too will come home to roost. Similar to wanting people to afford housing, families want their children to have an education ... unfortunately they're going to be paying the piper for much of their lives. Will Sallie Mae be bailed out next? Regulation is a must to stop businesses from taking advantage of the well-intentioned working class families.

Uh oh ... I see this has run off topic, hopefully that's okay since we're at the weekend. Things are rough here, 1/3 of the homes for sale in our area are in foreclosure. The schools are a financial mess because the well-intentioned feel they need to teach half the classes in Spanish ( in Illinois ... center of US ), which doesn't even make sense because the children speak good English though their parent's may not.

At least the gun range was busy today, jam packed ... and it's not a cheap hobby.

-bbq