Real Estate: Subprime Meltdown - CAP's Jakabovics on CNN

[hummarstra]

The bill had nothing to do with saving home owners. It was to tax payer bail out for the banks. Period.

[christobal880]

wow you are such a genius Lou Dobbs.

[mongobobo]

Yeah, I went to Las Vegas last week and only planned on losing $4000. Instead I lost $20,000.

BAILOUT PLEASE!!!????!!!

[aas8]

American people deserve this!!! They were the one`s who took out loans way beyond their means--now I live in a fairly decent neighbourhood in California and I have 3 foreclosures within a 4 block radius...this is a fairly upscale neighbourhood...and talking to one of them who lives on my street (when I went to check out his property)...the home he bought was for $850k....what is his occupation....A F`N BUS DRIVER! Sorry but no bus driver should be living in a $850k home...PERIOD!

[jonahansen]

Anyone who is "underwater", owing more than it's worth, should default, no? Then buy at market price (assuming some smart bank will give them a loan...).

[nwrhino]

Unfortunately, the banks have to sell the foreclosed properties at the value of the loan, not the market value of the house. There would be even more foreclosures but the banks can't knowing accept the risk of owning the "underwater" properties, so they extend "grace" period to put off the inevitable.

[dikinuface]

if i knew i would have had 10 years of a low rate because of this 5 year freeze/aid, then i would have purchased a home. i am happy the housing crash is happening (i am sad for family's loss) because now it is my time to strike and purchase, but now with this new additional 5 year freeze, i may not be able to purchase yet again. i wish the gov. would step in and give me money for being extra stupid and irresponsible.

[He101A]

Well, the fault is with the lenders and borrowers. The lenders should have done a better job checking peoples credit and credit histories. The borrowers shouldn't have bought that $500,000-$2,000,000 home with a fixed income of $20,000-$60,000/year. That $100 billion is being printed by the Federal Reserve and loaned out. It will cause inflation, the price of milk, bread, gasoline, oil will go up and up.

[ehs790]

this thing was setup by the rich to take real property from Americans due to the fall of the US dollar. these are the same people polluting China and taking advantage of cheap labor there. they are white CEOs and they are coming to get you!

[He101A]

Lol. There is no conspiracy like that. The people who got screwed are just a bunch of dumb brutes!

[ehs790]

this is the kind of idiot response I expected from a idiot like youself. Of course you would say this because you were not in the circle of rich who sat together to form it. You are a little ant compared to them. do you know the federal reserve is a private bank run by rich families to screw americans? search it , you corporate slave.

[He101A]

You and your conspiracy theory doesn't hold water. It happened more like this... Alan Greenspan lowered interest rates to historical lows. At the same time, he inflated the money supply about 100%. This means, prices were inflated 100% and more for basic commodities, and land. This is why homes rose and rose. These subprime lenders gambled the price of their homes would rise to the heavens, but it didn't.

[ZzzurkhanXIV]

Wow, He101A, for once I actually agree with you... in part, anyway.

[Monttai]

One thing nobody does not like to admit in USA: People are too greedy!!

If you can only afford $200000 home, do not buy a home worth $300000. It is simple. Does Lou Dobbs know it, he knows, does he blame the stupid greedy homeowners? absolutely not.

He will squeeze the last drop of the juice from middle class instead.

[chapsroc]

Subprime mortage loans are juse ONE of many US "financial products" voodoo crap-shoots.

The thrillions of sub-prime morgate loans were repackaged and sold to foreigners. Guess what the rest of US 'financial products" are? BS woodoo papers that won't worth scraps when people decide to take a close look at the so-call US "service" economy. VOODOO LAS VEGAS economy works as long as the world is willing to play the crap-shoot games with Americans. Those days are numbers now.

[ehs790]

most people in USA are so dumb they fall for this crap and will fall for it again. Just the same like they believe that they live in a true democracy. wake up and smell the coffee. or did they break your nose already? ha

[pamlyn]

Thank you so much for sharing this. Many YouTubers dislike Lou Dobbs because they dislike his views on illegal immigration. And because of that they miss all of the imformation that he shares on other issues like food safety and the economy.