I have to say, I'm impressed at the skills people are developing in these YouTube videos and current political ads to communicate a very complicated situation in a very short period of time. Message and politics aside, there's some interesting art going on here.
I think this RNCC ad is very well done, using material from the Congressional video I posted yesterday, some unexpected cello music, and basic text to tell the story:
For an eleven minute take on the financial crisis that also demonstrates these techniques, go here (I couldn't figure out how to embed it...)
Now, I don't know that these tell the whole story, and I think the second video is a bit over the top -- I listen to Megan McArdle when she says that there is no one source to the current problems, and that loaning to the poor doesn't track as causing things.
But politically, it's clear that the Democrats are lying through their teeth right now, trying to escape their complete culpability in whatever role Fannie and Freddie did play in all this. Whatever your politics, when it comes to figuring out what should come next and who should do it, you should be aware of who was in fact for and against responsible oversight of these government-assisted entities, and that in fact irresponsible government interference played a big part in Fannie and Freddie acting as they did.