Politicians here in Washington, D.C., don’t seem to have learned from the policy mistakes they made that caused the mortgage market collapse of 2007-8.
Conservative documentary filmmaker Cornelia Mrose and author Paul Sperry are making a movie that tries to prevent history from repeating itself. Their film exposes the true causes of the financial crisis and warns that the culprits are using it to justify policies that are leading America into the next and even greater crisis.
It’s important to understand that bad government policies are the chief cause of the subprime mortgage bubble that burst in 2007, causing widespread misery across the nation. Winning the argument about what caused the crisis will allow the victors to determine whether America unburdens itself from the crazy financial policies now in effect or doubles down and makes the regulatory environment even worse.
As Sperry wrote in The Great American Bank Robbery, “Like the Great Depression, the debate over the causes and cures of the Great Recession is a generational one that will shape the future of not only the American economy but the political landscape. Whoever wins this debate wins Washington and gets to determine the size of government.”
ACORN (Association of Community Organizations for Reform Now) played an outsized role in the market calamity that hurt and demoralized the American people and helped to vault the radical left-wing group’s former employee Barack Obama into the Oval Office. (I wrote a book about ACORN and Obama called Subversion Inc.)
As Edward Pinto, former chief credit officer of Fannie Mae, says in the above promotional video, “And now we found out, 20 years later, more than 20 years later, that ACORN had been behind the effort to force Fannie Mae and Freddie Mac, it turns out, to not do just pilots but to expand their programs tremendously, and they were working behind the scenes lobbying Congress to get changes the Fannie Mae statute.”
Mrose blames groups like ACORN and politicians like former Rep. Barney Frank (D-Mass.) who “were pursuing their delusional dream of economic justice.”
Sperry adds that “This dream turned into a financial nightmare, the worst since the Great Depression. Those they wanted to help most, African-Americans and Hispanics, were hurt the most.”
“Many of these same social engineers are back at it,” says Mrose. “Now they are calling the shots from inside the Obama administration cooking up another economic crisis which we call Subprime 2.0.”
Mrose and Sperry need your help now to make this important film called Subprime 2.0: Doubling Down on Disaster.
If you’d like to help with a donation, visit their Indiegogo page.