Hightower's Guide to Sub Prime Mortgage Rip Off

[eversincealways]

Extremely good video!

[cecilbdml]

Last time I checked, the banks and lending institutions were going out of business. Who's getting WHAT money?

The housing prices were (as theseeker2001 pointed out) due to NON-rich ordinary people's speculative buying, as well as states' desire to get more property tax revenue on the cheap. Housing prices were inflated artificially, and no one cared until reality creeped in.

These homes NEED to come down in value so normal, WISE borrowers can get in them.

[specifictender]

The OCC blocked states from regulating these predatory loans. There are laws to compel the lender to explain the fine print. The Bush admin PREVENTED enforcement of these laws by states who would have regulated the lenders. Documented truth should be above the level of argument

[theseeker2001]

All the poor borrowers so dumb didn't read the fine print? More like greedy borrowers choose ARM/IO on 2nd/3rd property thinking guaranteed money maker on flip in 2 or 3 years right? - wrong! Property investor fucks himself voluntarily - not my resposibility to bail out amatuer real estate speculators.

[notu286]

I didn't get any help from ACORN.

Great Job on the Video!

[notu286]

You are right!

[polymath1944]

The subprime mortgage fiasco is another example of many consequences of the steady de-regulation of markets that has taken place over the past 25 years that have benefited no one but Wall Street, corporations and the financial elites. Is it a surprise to anyone that the bailouts that are now occurring are provided for the vultures and criminals, but not the victims?