House of Cards... coming Feb 12

[kosedavidcohen]

BOTH SIDES OF THE ISLE ARE BEHOLDEN TO THE SAME INTERNATIINAL BANKERS. THE SAME PURSE STRINGS OWN ALL POLITICIANS AND THEREFORE, THE SHIFT FROM "WE THE PEOPLE" WENT TO "WE THE CORPORATE BANKERS."

THE WIZARD OF OZ SAID IT BEST "DONT MIND THE LITTLE MAN BEHIND THE CURTAIN" IT IS ALL SMOKE AND MIRRORS... DITRACTING US ALL SO THAT THE MAGICIAN CAN MAKE A SLIGHT OF HAND SUCCESSFULLY! THE GAME HAS BEEN RIGGED FOR DECADES... MAYBE A CENTURY AND THEN SOME.

THE AMERICAN REVOLUTION

WAS FOUGHT IN VEIN.

[jamescoatesp]

First of all, Dems and Rep share the blame, lets look at Barney Franks, the Dems wanted to help the poor by regulating how many subprime loans the banks had to make, Obama was the lead lawyer sueing Citibank for not giving enough subprime loans and in the end it was mostly the poor who lost there houses because they couldn't afford there homes. Let the free market determine who can afford a certain house, less government.

[johnduncan77]

For anyone who thinks "no one" knew about this problem and the Dems were in front of this thing, search "Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam" (I saw these hearings as they happened back in '04). The 1977 Community Reinvestment Act was brought into law under Carter & kept during Reagan & Bush 41. Clinton felt it didnt go far enough & HUD forced banks to lend to those who couldnt afford these loans. The rest is history.

[gamehound83]

After seeing George Bush in action during his first term it should have been enough for any voter with some brains to vote against him.

You didnt now enjoy the mess we have. You only have yourselves to blame.

[lovingit1000]

@gamehound83 - They do only have themselves to blame, but as you can see from the above post, they will find someone else to blame EXCEPT FOR SELF.

[uzijohn]

Sure Wall Streets to blame and perhaps they did get drunk,

but who provided the liquor?

As usual the REAL culprit slithered off undetected, they were buddies and had the same friends, attended the same parties and dined at the same 5 star restaurants,

Wall Street lined their pockets and they crafted made-to-order legislation,

when the bail-outs were created they're "Quid pro quo" arrangement wasn't forgotten,

But when it came time to take the blame only one was left holding the bag

[eatandtravel]

Typical dumb fucks blaming other for their bad decision.

[ZexMerquise]

They need to sell this on DVD.

[theRealness0820]

this show is awesome....

[initiateit]

The real Robin hood. Robbin' hoods and giving to the already wealthy... How digusting. And then you have the stupid, racist slobs blaming the poor who wanted homes for all this... Disgusting..

[beau1943]

House Of Cards is the best video I have seen on the economic crisis. If you have not seen the full program..... watch it. You will know the blame...

[phil777h]

Was Greenspan pretending to be thick, or was he really that stupid?, I suppose if you look at his preformance, the later is probably true.

What a complete idiot.

[zaboomafoo25]

sub prime mortgages...break the rules to make more money...the bush administration fucked it all up...

[whodat121980]

actually this started before bush you genius.

[lovingit1000]

@whodat121980 - The only thing that started before Bush was the dot.com bubble. The housing bubble is the result of not letting the it run its course. In 2003, Bush got rid of down payments (the one thing that keeps you within your means) and Greensplan gave away free money, and the banks gave huge bonuses not on the quality of loans but on the amount of loans. Sub-prime was the first shoe to drop, but more foreclosures are happening now in prime areas. The debt binge knew no one class.

[bleekblock]

BUSH bush BUSH bush BUSH bush BUSH - keep pounding your liberal chest.

This problem was started by the Democrats.

[b2flyer1]

Greenspan,this big nosed Bastard,told banks to sales loans with teaser rates,then raise the rate 17 TIMES....

[kng863]

At the start of all this mortgage fiasco in early 2001, I had a feeling things would blow up. I don't even have a mortgage and I'm hurting. I've owned my house in NJ outright since 1984 and the property tax is the highest in the nation! When all this ends, I think I'll be the few that survive living in NJ.

[vidgam]

REVOLUTION!!

[tipnttown]

The sheriff in the begining is in my home town of temecula Here whole houseing comunites were forclosed

[chetrshah]

unbelievable! How can alan greenspan say he with couple of hundred Ph.D.'s at his command could not understand the MBS and other mortgage products being sold as AAA securities, and still such systems continued for years?

A real eye opener. keep up the good work, CNBC.

[foadmofo]

You can thank the Bush admin for all this. Things were fine until energy prices went through the roof.

[440sixpack]

you are a liberal pinhead. you probably are penniless, where was barney frank and chrids dodd?they need to be hanged from the gallows for treason. One spik on the show wanted to leeve the american dream but never saved for a downpayment and lied on his application now hes devestated sob sob. easy come easy go go back to mexico!

[idunno092770]

Nothing more amusing than reading a comment like this...., "Chrids Dodd"? "leeve the american dream"? "Devestated"? while I agree with some of your rhetoric... (no need for the racist remarks mind you) at least use some hooked on phonics, a dictionary, to spell things correctly... but unlike the liberal pinhead your spewing your racist remarks to, you probably went to the school on the hill that had one classroom.....

[chubbyrock]

Hey...have another six-pack you a$%-hole. It is white trash like you that has caused America to go into the pisser. What good are the republicans, dumber and dumber is the party's slogan movie.

[garyowen4ever]

if greed is good, HATE FOR WALL STREET IS BETTER AND CLASS WARFARE IS BEST!

[ytdsmom]

Fan/Fred: "Write the loans! We guarantee them!"

Banks: Okay...sure. Why not, they're "guaranteed" by a Govt Enterprise

All the while, Fan & Fred had skewed accounting & was covering the truth in the books

Repubs wanted more oversight on these accounting flaws & tried to pass Bill S190 back in '05

Bill S190 went to committee (20 members) -- 11 were Repub -- 9 were Dem. For a bill to move fwd, it must gain 60% support. Repubs needed only ONE dem to support but none did & it died

[garyowen4ever]

its time to rethink bernie madoff AS A VICTIM OF BUKAHOLICISM. GREED IS A SICKNESS THAT MUST BE STAMPED OUT LIKE GLOBAL WARMING BY THE GOVT'S OF THE WORLD THRU REGULATION AND TAXATION. VICTIMS LIKE MADOFF ET AL...MUST NOT BE JAILED BUT BE REHABILITATED TO MAKE THEIR VICTIMS WHOLE...think out the box boys and girls!!!

[captnpurple]

Excellent piece of journalism. Well done CNBC. This catastrophe is going to take years to unwind. I'm with those who are predicting food riots and tent cities across America by 2012.

[phil777h]

Excellent doco.

What a complete and utter disaster the Bush era was.

Who knows how many years it will take to unravel this mess.

[lovingit1000]

Those who voted for Bush will never acknowledge that he was a failure. It would mean acknowledging their failure in voting for him.

[phil777h]

Yeah I reckon, maybe we should just be grateful he didn't start world war 3, although he sure tried his best.

[singerreo]

@lovingit1000

It doesn't look like Obama is doing such a great job.,.. no one is admitting they voted for him either..

[lovingit1000]

@singerreo - He's doing a better job than Bush did, cleaning up Bush's mess. If you remember, Bush spent the last year of his presidency saying "the next president will have to figure it out." Yet, those who voted for Bush and are more responsible for this mess than Obama is are wanting to blame Obama in order not to have the mirror rightfully turned on them. Nobody is fooled by you. You are shameful.

[gamehound83]

@singerreo I voted for him and he's not doing such a great job. Any man who wont stand up to his enemy's that being the Republicans or walk away from this war doesn't deserve to be president. Dr Ron Paul will walk away from this war. He has my vote maybe yours to?

[btwall60]

@lovingit1000

Being that you like youtube, put in the words 'Bush, regulators, Barney Frank, Raines, Fannie Mae/Freddie Mac, Jamie Gorelick, and Maxine Waters. What you will see are the Dem scumbags putting down the regulators because they were in charge of the Banking. They got rid of the Bush regulators and now here we are. Look, if you like 2 have willful blindness about the Democrats stay that way. But don't lie 2 the youtube community.

[lovingit1000]

@btwall60 - It's clear from your post that the truth is not the truth but what you want to believe is the truth. I can't argue with delusions, especially the part about "got rid of Bush regulators." That's funny. Delusional, but funny.

[btwall60]

@lovingit1000

deer Stoopid: Yes, telling the truth about the Left is "hate speech" and knowing that Bwarnwey Fwank should be doing three 2 five years in Allenwood instead of 2 more years in the Congress is "delusion". ur a youtube youBOOB :)

[lovingit1000]

@btwall60 - The only people I can understand who could complain about the left are those in the top 1% of households. If you are not one, you are calling the wrong person stupid. Look in the mirror and say hello to stupid. You are being used and TOO stupid to see it.

[singerreo]

@phil777h

..And what is Obama doing except making it worse!!??

[Vertigo027]

@singerreo

I know its easy to simply pick a side and hate. Tell me what is obama doing that is making this situation worse? I would like to be enlightened...

[crowndwner]

PUT A NAME AND FACE ON THAT OPENING EMAIL, CNBC! You're hiding behind the "..to protect the inocent, the names have been changed." line of SHIT...

[xpandergt]

It was a good show. It lasted for 2 hours. The only inaccuracy was when Faber said that Freddie and Fannie jumping into the subprime market until later, when in reality they really helped to start it back in 1999. Google fannie mae and new york times. The time of the story is Fannie Mae eases credit requirements. It's the fist story at the top.

[lovingit1000]

Subprime in itself was not a problem. It worked for a long time and some like Warren Buffett were involved in the subprime market and have not had the same issues. The problem started with no money down and getting rid of down payments and allowing liar loans. Requiring down payments of 20% and proof of salary would have prevented this from happening (it forces people to stay within their means) and this started in 2003/4.

[garyowen4ever]

what no one in the media talks about is that HOME ECONOMICS IS MORE THAN MEETING THE MORTGAGE, ie. rocketing property taxes, rocketing utililty costs(hvac), rocketing water, sewer, garbage, increasing property insurance and maintenance costs,,,,,,,,ITS CHEAPER AND SIMPLER TO RENT!

[AlienProphet13]

I missed the premier. Will there be a re-run.?

[garyowen4ever]

anecdotal weak shit, the cbs 60 minutes team would have had assholes gushing BLOOD.....also IT WAS AL GREENSPANS CHANCE TO SAY IT WAS NOT MY FAULT I KNEW NOTHING, YET AGAIN.....it was a valentine from cnbc to GREENTEETH, this program REALLY SUCKED!!!!!

[Changes4TheBetter]

and furthermore 2 me again, at this point, i would not care if "he" or she was republican or democrat, just about enough of this nonsense

we need 2 pull together,

enough of this name calling and separation of party's... is this going 2 help anything???

[thebrush03]

Do you think we should be spending a trillion dollars on ANYTHING that does't help create jobs in this stimulus package?

It isn't about Dem or Republican, it's about common sense.

Common sense "should" dictate that you wouldn't try to rush a trillion dollar bill without giving citizens (or those who represent us) a chance to read it.

Anyone who doesn't get that ...doesn't get anything!

[lovingit1000]

This bill has been around for three weeks. The only parts that changed are the ones in dispute. Why haven't you read it alreay? It's not like you had to read the entire thing in one day. Only the changes.

[Changes4TheBetter]

at this point i feel we must pray 4 our president whom has inherited the mess of all messes... would anyone else want his job now, no way would i, talk about stress... i find it terribly ironic that pres. bush was saying our economy was strong a short time ago, and mccain echoing his words...

excuse me???

[thebrush03]

Our economy was strong before the Dems took over the House 3 years ago.

You need to look into the Fannie Mae/Freddie Mac scenario.

Do you find it ironic that Obama said he would post every bill for 48 hours before it went to a vote and he didn't?

Only a fool would sign a contract without reading it. No one who voted for the stimulus package read it....

How will millions for abortion overseas create jobs? I guess it doesn't matter, it isn't Obama's money.

Pray for his soul

[Rspringscabin]

I saved and sold everything while people we just blind. 500k for a house in Fontana, CA? And most thought it was going to go higher haha. I am currently looking to buy one soon as I bought my cabin as a foreclosure also. Where someones hopes and dreams die, someone elses hopes and dreams rise

[thebrush03]

Why not blame the buyers who bought homes they couldn't afford hoping things would change and they'd be able to pay their mortgages.

"Hope and change" is a trap for people who are easily fooled into believing what they want or are told to believe.

It takes a minimum of 45 days to buy a home and iron out the financial situation.

Obama wants to rush into signing a stimulus package in a couple of weeks and keep the fine print from being revealed.

officals too lazy to get the facts are patrotic.

[mojorox]

Tell that to the millions who have lost their jobs in this downturn and can no longer pay their mortgage and who have little chance of finding another.

I read a book about the depression. People reacted just like you are till more and more ended up out of work. This hasn't even begun to play out yet. Just cross your fingers it does not happen to you.

[thebrush03]

The downturn was the result of the banks crashing and the crash was the result of people getting loans they had no hope of paying. Cause and effect.

An uninformed America is what will lead to it's demise... why do you think the Left wants to silence Rush?

Freedom of Speech applies to Lefties burning flags, not conservative radio hosts who reveal info that "The One" doesn't want anyone to hear.

He's spent $800K to keep from showing his birth certificate.

The Left doesn't know..or care.

[mojorox]

It is a lot more complicated than that.

Check out some good economic boards for information on how we got where we are. Wall street had a party and we get the hangover.

Rush is irrelevant, a drug addicted blowhard who went crying to the ACLU who he had always cut down when he actually needed his rights protected.

The state of Hawaii has verified Obama's birth certificate.

I don't know where you are getting your news but you are right , an uninformed America will be it's demise.

[thebrush03]

If Rush truly was irrevelant the president of the United States wouldn't bother telling people not to listen to him, nor would they try to institute a "Fairness Doctrine" to try to silence shows that had successfully found sponsors.

If Obama was born here, why has he spent $800K to keep from showing a $12.00 document?

You were told what to believe, what to reject and what to fear.

The Left controls you because they know you're too "intelligent" to grasp it.

You're a useful idiot"

[thebrush03]

You didn't mention the culpability of the Democratic Party in the Freddie Mac Fannie Mae meltdown.

Was it easier for you to arrive at your conclusion by avoiding the facts or are you in denial about them?

I get my news from the Internet. Thats why I know Obama refused to reveal his school records and that he

gave 6% of his earnings to charity in the past 8 years.

Obamas works reveal more about him than his words.

Common sense would dictate that.

Public school education?

[jrebstock]

thebrush03....worldnetdaily (a conservative website confirmed the obama birth certificate is real)....this story on CNBC shows that Fannie Mae & the dems had nothing to do with the banking collapse & our economic mess..only the stupid banks that made the foolish high-risk SUB-prime loans got in trouble.. all banks were NOT forced to make sub-prime loans (thats another FOX News myth)..thats why the banks that willingly steered clear of the subprime loans are still healthy.

[thebrush03]

So you're saying that Fannie Mae and Freddy Mac guarantees had NOTHING to do with the financial mess?

Can you tell us how much Barney Frank got from both institutions?

If Obama's Birth certificate is legit, why has he spent $800K of other people's donations to his campaign (some of it from VERY poor people) to keep from showing it?

By applying logic to your arguments you'll discover you have no argument at all.

The Dems have now signed a stimulus bill they never read.

Brilliant!

[jrebstock]

not sure what your source of info is regarding obama spending $800K on hiding his birth certificate.....please send me a link.....i'm quite sure the source is a GOP website that has ZERO proof and a HUGE (conservative) agenda.

[beachbum772]

Fannie/Freddie were still making stated income (liar) loans up until a several months ago.....I would know--I work for one of the biggest banks in the world and I am in home lending.....

Just saying......

[lovingit1000]

Since Fannie/Freddie do not make loans of any kind, you should do more research on your supposed industry.. Do you know how Fannie/Freddie work? They do not create loans. They buy them.

[goochfacekilla]

they where buying loans that where on their way to the shit hole...

[ytdsmom]

lovingit1000:

I've been in the business myself. Banks make loans based on Fannie & Freddie GUIDELINES --- using THEIR underwriting system

You are WRONG

[goochfacekilla]

so true

[carolynnmi]

The producer of this documentary, James Jacoby, spent a year of his life trying to bring the details of the housing crisis to light. He's just been laid off from CNBC

[thebrush03]

Barney Frank told us that Fannie Mae and Freddie Mac were doing fine 6 months ago. Two years ago they were threatening to sue lenders who refused to give loans to people who didn't have the means to own a home over the long haul.

You don't help people by giving them what they want regardless of their means.

How many Dems made MILLIONS from Fannie Mae and Freddy Mac.

Don't look into it if you're a liberal, you'll have to go into (more) denial.

[albertfrias]

you can thank Orange COunty California for the mess. 900K for a house thats really worth 200K