Journalist and author Paul Sperry and Compass Films of New York Director Cornelia Mrose are making a film that 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.

"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."

Paul Sperry, The Great American Bank Robbery

Without your help we won't be able to make the film. It's that simple.

We are raising money from those who understand that we are losing America.

But we are making the film to reach all Americans, including those who have no clue what caused the financial crisis or who are convinced that it was caused by greed on Wall Street and deregulation.

"In the future, it may turn out that the most troubling feature of the false narrative about the 2008 crisis was its failure to acknowledge the need for policies that will prevent another collapse of the housing market. If the public believes that the financial crisis was caused by insufficient regulation of the private sector, and that the housing policies the government pursued between 1992 and 2008 had no role in the events of 2007 and 2008, a return of the same faulty policies are inevitable in the future. The real lesson of the financial crisis will not have been learned."

Peter Wallison, Hidden in Plain Sight: What Really Caused the World's Worst Financial Crisis and Why It Could Happen Again

“BB&T did make high risk, low-income loans to meet CRA requirements and we were pressured to make subprime loans and pledge money by activist groups.  All banks paid ‘bribes’ to CRA groups.  I had direct contact with them.”

John Allison, former CEO of BB&T Bank

HOW THE CULPRITS ARE DOUBLING DOWN

Leftist non-profit groups like ACORN and the National Community Reinvestment Coalition (NCRC) worked together with high officials in the federal Government and played a crucial role in causing the financial crisis. The same and much worse is happening today.

Watch the one-minute video right below to find out how the culprits are doubling down:

HOW WE WILL SPEND THE MONEY RAISED:

Cornelia Mrose is the founder and director of Compass Films of New York and producer of Subprime 2.0. She is co-host of the Steve Mayo Show at WVOX 1460AM. Cornelia has an MA in Drama and an MALD from the Fletcher School of Law and Diplomacy. She has lived and worked in Germany, England and the US.

Paul Sperry is senior editorial journalist at the Investor's Business Daily and a Hoover Institution media fellow. He is the author of several books. In 2005, he published Infiltration: How Muslim Spies and Subversives have Penetrated Washington and in 2011 The Great American Bank Robbery: the Unauthorized Report About What Really Caused the Great Recession. 

Sperry also writes a regular Sunday column for the New York Post. He has appeared on CNN, C-SPAN, the NBC Nightly News, the Fox News Channel, the Fox Business Network and the National Geographic Channel.

Paul Rivoche is a Toronto-based illustrator/comic book artist who co-created the 1980s icon Mister X. His work includes making comics, writing stories for graphic novels and illustrating book covers for Superman and Iron Man. He illustrated Amity Shlaes' graphic novel The Forgotten Man. He also creates background designs for Warner Bros. TV Animation. See samples of his work.

In February 2015 two pieces of Rivoche's work have won both the Gold and Silver Medals in the "Graphic Novels/Comic Books category of the Society of Illustrators of Los Angeles" competition.

Kimberly Fiorello is thrilled to support the making of this film. Kimberly lends her work experience in the financial industry and in financial journalism to this project. She is a big fan of Paul Sperry's The Great American Bank Robbery and Peter Wallison's Hidden in Plain Sight. She is also a listener of the Steve Mayo Show on WVOX that Cornelia co-hosts. Kimberly is a mother of young children and a small business owner.

“It is really shocking to me how many people in DC wanted GSEs in subprime, but now deny GSEs [Fannie Mae and Freddie Mac] had any involvement.”

Mark Calabria, member of the senior professional staff of the U.S. Senate Committee on Banking, Housing and Urban Affairs from 2003-2009

We will show through overwhelming evidence that it was government housing policy that caused the financial crisis. 

Bill Clinton started the policy and George Bush continued it. Moreover, activist groups like ACORN played a crucial role pressuring government officials to dismantle lending standards. In fact, we will introduce fresh documentary evidence that ACORN lobbyists met privately with high-level White House and HUD officials and actually helped draft key housing legislation and regulations that fueled the subprime mortgage bubble.

The Department of Housing and Urban Development (HUD) used so-called Government Sponsored Enterprises (GSEs), namely Fannie Mae and Freddie Mac, to push the market to loosen underwriting standards. Fannie and Freddie themselves bought millions of subprime mortgages while hiding the fact that they had become massive players in the subprime housing market. The goal was to mislead the market into believing that Fannie Mae and Freddie Mac were only buying prime loans - as they traditionally had - while still complying with HUD's subprime quotas known as Affordable Housing Goals.

HUD wrote this in 2000 about the Fannie Mae and Freddie Mac:

"Because the GSEs have a funding advantage over other market participants, they have the ability to underprice their competitors and increase their market share. This advantage, as has been the case in the prime market, could allow the GSEs to eventually play a significant role in the subprime market. As the GSEs become more comfortable with subprime lending, the line between what today is considered a subprime loan versus a prime loan will likely deteriorate, making expansion by the GSEs look more like an increase in the prime market. Since... one could define a prime loan as one that the GSEs will purchase, the difference between prime and subprime markets will become less clear. This melding of markets could occur even if many of the underlying characteristics of subprime borrowers and the market's (i.e. non-GSE participants) evaluation of the risks posed by these borrowers remain unchanged." 

THANK YOU!

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