City Life/Vida Urbana Profiled on Bill Moyers Journal (2/2)

[modernmariorc]

because the bank appraiser gave inflated prices to the buyers and homeowners. people thought that huge house was worth the price because 79 percent of appraisers were pushed by banks to give higher appraisals. also banks sold their losses to the government. govt bought 230 billion of losing mortgages from citibank. what did taxpayers get in return? $30 credit card late fee fines, 19% credit card interest rates.

[modernmariorc]

foreclosure or sale makes you lose ALL the money you paid in. if rent is $1200/month, mortgage is $2200/month. you overpay by a thousand monthly just to have the mortgage. if you foreclose, you don't get that money back.

[rsuthe00]

great video. thanx for posting. very inspiring

[vainamoinen17]

This is ridiculous.  Look at that house at 7:45 its huge. How am I supposed to feel sorry for these greedy rich suburbanites when they live in a places like that. I liked it when you posted videos with Chomsky talking about the corrupt wars and corporatism but these videos are horrible. I'm unsubscribing.

[Chomskyan]

No one asked you to feel sorry for anyone. This is a look at some grassroots organizing, and actually look at some effective tactics against these corporations. That's not talking about corporatism?

Please unsubscribe.

[Chomskyan]

btw, the house is a duplex, and the windows are boarded up. And Dorchester is a working class neighborhood of Boston, not some rich suburb.

[modernmariorc]

because the bank appraiser gave inflated prices to the buyers and homeowners. people thought that huge house was worth the price because 79 percent of appraisers were pushed by banks to give higher appraisals. also banks sold their losses to the government. govt bought 230 billion of losing mortgages from citibank. what did taxpayers get in return? $30 credit card late fee fines, 19% credit card interest rates. also people paid twice the rent for a mortgage, and they last ALL the money paid in.

[modernmariorc]

because the bank appraiser gave inflated prices to the buyers and homeowners. people thought that huge house was worth the price because 79 percent of appraisers were pushed by banks to give higher appraisals. also banks sold their losses to the government. govt bought 230 billion of losing mortgages from citibank. what did taxpayers get in return? $30 credit card late fee fines, 19% credit card interest rates.

[Boomer1949]

Another great video. I'm so heartened by what this organization is doing to fight the injustice of the banks in Boston. Their methods can be adopted all over this country. The country can not survive the way it's being run now by big interest and banks..it' just killing the hands that feed it.

[MOONDOGGIESWTF]

"awful company to work for" if it was so obviously hazardous then just leave? get a job somewhere else? i can appreciate protesting banks that are in bed with governments, bailouts etc. But for god sakes obviously the monetary benefits of working for that evil corporation at the time out weighed the health risks so why blame them for employing you?

[organdva]

You can leave your state if you don't like it, or even better, make one yourself!