I saw it.

It was intentionally misleading. Excerpting a single sentance from an entire speech.

Sub prime loans to inner cities didn't bring down the mortgage industry

Sub prime mortgages to McManion buyers in the suburbs did.

OK Trigger,

Here is the rest of the paragraph your right wing source cut off from his video:

"Subprime lending started off as a good idea – helping Americans buy homes who couldn't previously afford to. Financial institutions created new financial instruments that could securitize these loans, slice them into finer and finer risk categories and spread them out among investors around the country and around the world.

In theory, this should have allowed mortgage lending to be less risky and more diversified. But as certain lenders and brokers began to see how much money could be made, they began to lower their standards. Some appraisers began inflating their estimates to get the deals done. Some borrowers started claiming income they didn't have just to qualify for the loans, and some were engaging in irresponsible speculation. But many borrowers were tricked into glossing over the fine print. And ratings agencies began rating bundles of different kinds of these loans as low-risk even though they were very high-risk."

And here's a few more excerpts:

"In recent years, we have seen a dangerous erosion of the rules and principles that have allowed our market to work and our economy to thrive. Instead of thinking about what's good for America or what's good for business, a mentality has crept into certain corners of Washington and the business world that says, "what's good for me is good enough."

In our government, we see campaign contributions and lobbyists used to cut corners and win favors that stack the deck against businesses and consumers who play by the rules. Massive tax cuts are shoved outside the budget window and accounting shenanigans are used to hide the full cost of this war.

In the business world, it's a mentality that sees conflicts of interest as opportunities for profit. The quick kill is prized without regard to long-term consequences for the financial system and the economy. And while this may benefit the few who push the envelope as far as it will go, it's doesn't benefit America and it doesn't benefit the market. Just because it makes money doesn't mean it's good for business."

I know all that reading will tax you.

I know it's a loteasier for you to get your head around a You Tube cartoon version that takes one sentance and repeats it and repeats it again and again.

You can read the rest of Obama's speech here:

I was just warming up.