Social justice is what the liberals want. Make everyone have the same standard of living at the expense of the tax payer. It works as long as you have other peoples money but when you run out of that money it don't work anymore. Its what broke Greece and will break other European countries as well as the U. S. Borrow, borrow, borrow until every thing is a giant Ponzi scheme. Then flood the country with legal and illegal immigration and see what happens.
part 4- So imagine realizing that your home, which you bought for $1.2 million is now worth $900,000 because the value of your neighborhood is lower to attract lower income families. On the other side, investment banks are loosing mortgages to rape money from, and investors are loosing their intensive to invest. Uh oh, INTEREST RATES INCREASE. Thats how it happened.
part 3- When one house in a neighborhood goes into foreclosure, it and all the other homes loose their value (because the truth is, the small banks can't find any families to sell homes to, which in turn scares the investment banks because they can't find any mortgages to buy from small banks. So they lower the prices on homes to attract more families. And so, all those people who were responsible home owners, who were paying off their loans, now notice that the value of their houses is lower...
part 2-slowly but surely those irresponsible people (those people who were kinda tricked by the smaller banks into purchasing loans they couldnt pay off) begin to default on their loans, and looses their house. The money extracted from the mortgage then goes to the investment bank, who bought the mortgage before, remember? But the investment bank owns a shitload of mortgages, so its alright... right? Unfortunately, all of these less-fortunate people start defaulting, aswell...
part 1- this is why it happens. Individual banks sell houses to people who really shouldn't own them (many banks cut back on their regulations of those who buy houses, like whether someone can actually pay back the loan). The homeowner starts paying mortgage. The mortgage (or house, i guess) is then sold by the bank to a large investment bank like AIG (the homeowner is oblivious to this). Different investors invest in the mortgage, or mortgages, given this investment bank know owns a lot of them
Most people are not aware that Obama was not at all bothered by the housing crisis and the economic recession that followed. It allowed him to screw the White general public with massive wealth redistribution programs and help fulfill his agenda of making Whites into third class citizens. Like Bob said, wake up or America will be a third World nation or even more like the Planet of the Apes film series. Watch Planet of the Libs here on YouTube. Also on YouTube watch David Duke.
ON the Builders, If your a builders and no one buys any of the house, then you'll have to Destroy all of these houses and give the land Back to the banks so the banks can sell the lands at fair market value.
The turks will bring up the rear. Their favorite hymn is "I'm walking behind you". You separate the men from the boys with a crowbar. obama is an illegal, homosexual, muslim porch monkey. Go to: Her Name is Ms Ann. Then: Larry Sinclair. Then: Phil Berg. Then: Rev. James Manning. Then: Aaron Klein. Guy calls the cops, Send an officer over, I got a coon in my cellar. Cop says "Be specific man, a raccoon or a nigger? Guy says, A raccoon, mother fucker, I'm a nigger!
To avoid such scam. People should ask question in things they dont understand well. Not just in getting a property but for each transaction you are involve with.
Did you know that the government uses 8.8 Billion dollars of tax payer money to recycle. now that's a scam (because people actually believe recycling is good still)
the reason people bought these homes because they think that their jobs last forever but pariently Surprise Surprise! they either got Fired, or they got laid off because company went out of bussiness iven though you have a job making lots of money, you shoudn't buy a very pricy homes because if you Job breaks down, your Screwed!!!! because you can't pay them back.
I urge everyone in countries around the globe to withdraw all thier money from thier bank accounts with the exception of enough to mark a day of independance of thier country.
America i want the fed to see $17.76 in each one of your accounts by this date!
You are so silly and uneducated that you have no idea what the repercussions of your idiocy could do the the economy. The banks need to suck up the loss of the bubble that they created or the entire economy is going to crash.
You need to do some reading and educate yourself moron.
@TheLIGHTinMYwindow sorry spelling error: I have a solution to this problem create a currency that cannot be inflated problem solved!...because if you cant inflate it...it aint credit lol
this is the 2nd dwb vid i've watched & i love this guy. bless you dwb! hang in there man. you're not alone. hopefully enough Americans who are awake & aware will find each other and get the ball rolling before we are flying a flag featuring the Chase bank logo instead of the stars & stripes. amazingly, we still don't have banking regulation. born poor, die poor...
I lived in Vegas for 3 years.Not once did a pitt boss affor to give me my bet back after I busted at Blackjack.,even when I told I told him I would starve if he didn't...whats next?
This comment has received too many negative votesshow
So why should you get that house at what you call a fair market value. If the person living in it has a mortgage for twice as much. If the banks reduce the principal to what you are calling fair market value, then that person can stay in their house. You are just some coward who never had the guts to try anything, and now you think that entitles you to be a vulture and pick at the bones of the carcasses that you didn't kill..
@TheLIGHTinMYwindow LOL he's a dirtbag for advocating non-interventionist economics?
If you think it's oh so important to "bail out" the people who spent way too much by purchasing housing in an artificially inflated market, then you and your buddies do it.
@TheLIGHTinMYwindow Hey dumb ass the bank should do no such thing. They signed on the dotted line. Scooping up deals when people are down is the American way. Capitalism at it's finest. You are a bleeding heart libtard.
The problem with the housing market and poor people, is renting costs just as much as the housing mortgages do, The problem we are all screwed is Cause We Have NO more JOBS for the amount of people that need them. People can't even afford to rent anymore.
Bob, if you would slow down and speak like a normal person you might actually be heard, but at this rate you sound like an absolute moron and people are turning you off before they even hear your message, which by the way is pretty much right on. Cool off and start over, calmly!!
@Aliqat11 "Bob, if you would slow down and speak like a normal person you might actually be heard"
He has a very big fan base BECAUSE he shouts the way he does. If he stopped doing that, NOONE would listen to him. How many subscribers do you have? Perhaps YOU should start screaming! What's next, what's next, what's next!
The sub-prime loans were rated fraudulently I agree, but the vast majority of the loans themselves were not fraudulent. I think all of Government is to blame on this one, Government should not have anything to do with a private industry let the market bare what risk it will bear. However, when the Government stepped in and wanted to regulate Fannie and Freddie, their highest paid employees, the Democrats, who have take millions of dollars every year blocked it. There is no getting around it.
Everyone knows the government is the fraud. We all need to come together as one and over turn the US government. 310 million people can beat the crap out of a few thousand.
75% of loans were fraudulent from the Banks and lenders ! – Google FBI+Subprime+fraud
-
During the Clinton Admin., in 2000, because of a -'re-assessment of the housing market'- by HUD, “anti-predatory lending rules were put into place” that “disallowed risky, high-cost loans” from being credited toward affordable housing goals.
During Bush Admin., in 2004, these rules were dropped and –‘high-risk loans’- were again counted toward affordable housing goals.
...
2003 the Bush Administration .., created a new agency .. within the Treasury Department to assume supervision of Fannie Mae.
Bush’s -'Ownership Society Program'- ... encouraging and [Federally Subsidizing - poor people get -'grants'- to help with down payments and closing costs].
The act authorized $200 million dollars per year for the program for fiscal years 2004-2007.
President Bush also tripled the funding for organizations like Habitat for Humanity that help families help themselves become homeowners through 'sweat equity' and volunteerism in their communities.
Substantially increasing, by at least $440 billion, the financial ... involved in the secondary mortgage market specifically targeted toward the minority market.
75% of loans were fraudulent from the Banks and lenders !
-
Bush transferred Freddie … etc. to the Treasury; campaigned on the _”Ownership Society Program’- -‘for minorities’- in 2004, Repub. Congress funded it [-‘gave’- grants for down-payments and closing costs].
-
Wall St. knowingly [fraudulently] packaged them – paid the rating companies [S & P, Moody’s, etc] to falsely represent them
@hackit12 There never was an agency created to supervise Freddie Mac and Fannie Mae. Bush tried twice to get a bill passed through Congress to set up a supervisory agency for them, but both times it didn't make it out of the House.
@hackit12 Why do you think the Democrats were able to stop it both times? The Republicans never held a majority in Congress like the Dems did from 2008-2010. The Republicans from 2001-2008 held a majority without having 60 votes in the Senate and thus could not stop a filibuster in the Senate.
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This guy is far more intelligent than he comes off......it appears he researches his topics quite thoroughly before airing his complaints.......I like him
there is a fix. ONE FIX. before a global depression. and it is simple and can be accomplished overnight. Starting at noon today NO money can any longer collect INTEREST !
sit back and watch people buy cars homes pay off their mortgages build businesses create free markets and enjoy sharing with other countries rather than existing on a military economy necessitating? bombing them.
Too simple for arrogant wealthy politicians and Banks to comprehend.
right on bob, unless you can afford to pay a house off in one year, don't go into housing market, no matter how small or how cheap the house is, don't buy that house unless you can pay it off in one year because even though you have a job, your at risk, because if you loose your job, you won't pay your morgage, and you'll have to leave the house and go rent or move back with your pairents, friends or relatives.
Awesome video! I just want to get a home loan on a house that is a lot bigger than I can afford; you all can help make the mortgage payments! And, their is nothing about socialism in this! LOL
last year in april, they've demolish bunch of the newer homes in Victorvill C.A. , and some of the house has been unfinish some are models home displayed and if more homes goes forclosure, and nobody buys it at all so they destroy house, pariently its a crisis no longer a scam so its been happening allmost every day. and the house that was $300,000 are now $150,000 and will never go back up untill 2013. would we have a second chance to live in 2013 or would we all be dead? who knows?
A "responsable" person can still lose their job...after 25 years and not be able to find a job. I know a guy that payed his bill ,worked for the same company for 22 years, and was laid off. Now its been 2 years and NO ONE WILL HIRE HIM. He was "resposable" now he's fucked. Is that his fault...I'm asuming you havent been laid off.
@weaponX1 - damn straight. I always wonder about these hysterical types insisting home losers were irresponsible. WTF - do they think the loss of insurance and medical bankruptcy is a lie? Insensitive bastards!
American Government/Central Banks = The Largest TERRORIST Organization in the WORLD!!!! Want to know what is really going on? Check out these pro-constitution truth speakers: Gerald Celente Edward Griffin Aaron Russo Judge Napolitano Webster Tarpley Peter Schiff Ron Paul Max Keiser Gary Franchi Democrat or Republican - it does not matter. Don't waste time talking about it!!! The Constitution is what matters!!! End The Fed!!!
This guy is so right. Unfortunately, the same thing will happen with socialized healthcare for all. Prices will skyrocket now that the govt will subsidize it. Taxes will have to rise to like 90% if obamacare passes. People in this country are so stupid. Liberals have ruined this country with wanting to help everyone and put them in a home. They have done more damage than a standing army.
Don't dilude yourself. "Liberal" Democrats and "conservative" Republicans, as well as the Federal Reserve, are all guilty of our current depression. Republicans did nothing get government our of the housing industry in the six years they held both the executive and legislative branches.
Home Ownership and President Bush
watch?v=kNqQx7sjoS8
Thomas Sowell Blames Housing Bust on Frank, Bush, Greenspan
obama should listen to this instead of screwing the people who pay their bills. this guy is right, maybe noisy about it, but right. so, you people out there stopping asking for hand outs and go to work.
Ironically, Bob shared this two days after the banks bottomed on Wall Street. Life has been smooth sailing ever since and the foreclosures on the Jumbo Alt-As has been sweet as well with nice houses selling for 2/3rds their 2006-07 highs.
yeah...only problem is, they are only worth 1/4 of their 06 highs at the most.
govt props of banks will work until they don't. problem is, at that point it will be the gov that fails...then you'll find out what you were relying on gov for all those years (public safety), not no-lose casinos for the privileged few.
The government never gave people moent and told them they can only spend it on homes. Banks had crazy loan rules that allowed them to give out unrealsitic loans that had ridicioulous interest people really never had a cahnce and were lured by greedy banks to buy or refianace with their loan program. The iresponible people were the banks and dreamers wanting to buy their firsy home or new home etc.. Banks are the problem not some evil governmen conspirqcy.
Actually banks don't lend money. The money that funds a "loan" is created by the signature of "the borrower" who in reality is the the "creditor" making the loan to the bank who then has the "borrower" sign an agreement obligating the "borrower" to pay back the principle he created plus interest (which isn't created and therefore is why mathematically a certain percentage of mortgages will default) to the bank who has nothing at risk and never owned the home. Nice scam! Now, where's my bailout?
So, Bob, i can understand that one may assume it was all a big scam of some sort, but I saw it first hand and I think no one thought it would ever get this bad. I got more info for you. I you'd like to know just ask me. What I know I will answer.
The state and federal goverment is indirectly at fault, not because of some big conspiracy or set up but because it did not correctly regulate and police the housing industry. There were some regualtions but they very loose, poorly policed and hardly if at all enforced.
The mortgage crisis was caused because of fraud within the industry itself. At the request of the loan officer and realtor, appraisers were always squeezing as much value out of a house in order for the loan officer and realtor to get a bigger sale hence earn higher commission. This is just ONE of many frauds that contributed to where the housing market is at this time.
the value of homes are dictated by the sale price of other homes in a certain area, ie: if my current home value is 200k a comparable home in the vicinity sells for 250k, the effect it will have in my home would be an increase in value. I 've been in the mortgage industry for over 10 years. So my question to you is: what are you talking about?
Care to explain what you meant when you said about the government "forcing" mortgage companies to make loans to people who couldn't afford to pay them back? Be specific. Volume doesn't equal truth.
OlivierdeAthos : since when do people who earn very little buy into a house mortgage anyways? If that weren't true , nobody would rent anything to live in. No there's nothing going on : Where did Enron go ???? Are you from outer space?
I have no idea what you're ranting about. I asked a very specific questions: how did the government "force" mortgage companies to make loans to people who couldn't afford to pay them back? (This is usually answered by some untruths about what's in the CRA, since very few people are aware of what's actually in it.)
OlivierdeAthos : the employers couldn't pay their employees enough to buy homes , so they suggested that it be government funded. The government told them not to lie to them which started a political battle that led to banks lending to unqualified buyers. This all spells out the same thing - that employers don't want to pay certain employees no matter what they are capable of. If it can be done with a debt to a bank , it is doable in their minds. It's a fraud and a legal ripoff on people.
Legalize Cannabis. It's 10000X less harmful than nicotine, alcohol, and most of the over the counter drugs.. Marijuana is a good cure for insomnia, anxiety, paranoia, depression, stress, anorexia, or natural loss of appetite.. Great natural muscle relaxer. Plus, legalizing would improve the market by starting businesses that sell plants and seeds, then more jobs would be available. I could smoke 3 blunts of it and not overdose like the crap capsuals and pills, that are 'painkillers'.
First the government housing scam....and now the Gotti's might lose their Long Island mansion? What is this world coming to...where are they going to live, in the apartment next to mine? I hear those Gotti boys are loud and rambunctious...hope they don't move into my building.
BOB tells it like it is. He makes total sense. Keep going. I'm getting a degree by watching "DRINKING WITH BOB 101" and I've also by the way, stopped buying oranges...The government always comes along and artifically inflates everything. That is Lesson # 1 in today's "Drinking with Bob 101" - kids, listen and learn!!!! Grown ups, WAKE UP & Stop watching American Idol and Dancing with the Starts. START LISTENING TO DRINKING WITH BOB!!!!
The Derivative bubble is what created the loans, even if you are responsible and paying your mortgage, the derivative market crash eliminates jobs and equity. How long will you be responsible on the house you could afford with no job. Good Luck responsible people....
Bob, you're a genius! Love your videos. Do you feel better after ranting? It looks cathartic. I do that sometimes too (but not on camera). I always feel better after ranting.
DUDE! Take a deep breath and get over the fact that MCcain and the Republicans crashed & Burned. Republicans blew the last 8 years. Now, TAKE YOUR MEDS.
This comment has received too many negative votesshow
bob, dont compare life to oranges, its dumb.
everyone else, this guy is using his boisterous attitude to win you over. its basic public speaking to "gain attention"
the gov't was looking out for the people, helping them to live free. basic supply and demand is what happened. the gov't was helping the lower class people to survive. its unfortunate that you rich liberal people only want to help yourselves out and no one else.
this is a part of life. we have seen worse, we will survive.
Spot on, BOB ... A big thanks to the Dems & their willingness for Fannie/Freddie to go unfettered and lend to every indigent person in the nation. Meeks, Frank, Waters and the rest = big, stinky a-holes
I go into really nice new neighborhoods. There are gangs, graffiti, new houses being run down. The government took the ghetto people and gave them nice homes. These nice neighborhoods will turn into ghettos soon if the scumbags
Orange example had me laughing, lol.
ipodchik 1 month ago in playlist More videos from drinkingwithbob
very good and intuitive
chris532008 1 month ago
Bob for President . Vote for Bob 2012
Baller527 1 month ago in playlist More videos from drinkingwithbob
This is what Ron Paul has been saying for years now!
RP 2012!
ronpaul2012boss 2 months ago
You're lying. You're trying to keep yourself out of jail for approving all those loans.
Beingreal40 3 months ago
Social justice is what the liberals want. Make everyone have the same standard of living at the expense of the tax payer. It works as long as you have other peoples money but when you run out of that money it don't work anymore. Its what broke Greece and will break other European countries as well as the U. S. Borrow, borrow, borrow until every thing is a giant Ponzi scheme. Then flood the country with legal and illegal immigration and see what happens.
horseman528 4 months ago
your right i think you should run for congress or president and make american prices better than theyare now just do it!
FS98FSX 5 months ago
i hate to break it to you, buddy, but the government is not out to get you.
sporefreak105 6 months ago
and not once did i mention the united states government.
sporefreak105 6 months ago
part 4- So imagine realizing that your home, which you bought for $1.2 million is now worth $900,000 because the value of your neighborhood is lower to attract lower income families. On the other side, investment banks are loosing mortgages to rape money from, and investors are loosing their intensive to invest. Uh oh, INTEREST RATES INCREASE. Thats how it happened.
sporefreak105 6 months ago
part 3- When one house in a neighborhood goes into foreclosure, it and all the other homes loose their value (because the truth is, the small banks can't find any families to sell homes to, which in turn scares the investment banks because they can't find any mortgages to buy from small banks. So they lower the prices on homes to attract more families. And so, all those people who were responsible home owners, who were paying off their loans, now notice that the value of their houses is lower...
sporefreak105 6 months ago
part 2-slowly but surely those irresponsible people (those people who were kinda tricked by the smaller banks into purchasing loans they couldnt pay off) begin to default on their loans, and looses their house. The money extracted from the mortgage then goes to the investment bank, who bought the mortgage before, remember? But the investment bank owns a shitload of mortgages, so its alright... right? Unfortunately, all of these less-fortunate people start defaulting, aswell...
sporefreak105 6 months ago
part 1- this is why it happens. Individual banks sell houses to people who really shouldn't own them (many banks cut back on their regulations of those who buy houses, like whether someone can actually pay back the loan). The homeowner starts paying mortgage. The mortgage (or house, i guess) is then sold by the bank to a large investment bank like AIG (the homeowner is oblivious to this). Different investors invest in the mortgage, or mortgages, given this investment bank know owns a lot of them
sporefreak105 6 months ago
You are RIGHT ON!!!
liliodine 7 months ago
This has been flagged as spam show
Check out this guy's channel comments. 5 pages of all positive comments. Either this guy is the greatest thing on youtube or he silences all dissent.
tubes17 7 months ago
Most people are not aware that Obama was not at all bothered by the housing crisis and the economic recession that followed. It allowed him to screw the White general public with massive wealth redistribution programs and help fulfill his agenda of making Whites into third class citizens. Like Bob said, wake up or America will be a third World nation or even more like the Planet of the Apes film series. Watch Planet of the Libs here on YouTube. Also on YouTube watch David Duke.
MrBEB123 8 months ago
44 people shouldn't have bought a freakin' house in 2007 and are still butthurt about it.
TheMetalChefOnline 8 months ago
The biggest mistake is wimpy liberals
MadFNMax 8 months ago
Shut uo you clown!!!!
fodoret 9 months ago
the big mistake was the abortion your mom didn' havet
1961arnie 9 months ago
ON the Builders, If your a builders and no one buys any of the house, then you'll have to Destroy all of these houses and give the land Back to the banks so the banks can sell the lands at fair market value.
sideslide23 10 months ago
This has been flagged as spam show
The turks will bring up the rear. Their favorite hymn is "I'm walking behind you". You separate the men from the boys with a crowbar. obama is an illegal, homosexual, muslim porch monkey. Go to: Her Name is Ms Ann. Then: Larry Sinclair. Then: Phil Berg. Then: Rev. James Manning. Then: Aaron Klein. Guy calls the cops, Send an officer over, I got a coon in my cellar. Cop says "Be specific man, a raccoon or a nigger? Guy says, A raccoon, mother fucker, I'm a nigger!
Petekiv 10 months ago
I think you are going to vapor lock!
originalwerks1 11 months ago
To avoid such scam. People should ask question in things they dont understand well. Not just in getting a property but for each transaction you are involve with.
spectrum2000now 11 months ago
Bush SUCKED. Obama SUCKS HARDER.
tubeviewerX20 11 months ago 5
Did you know that the government uses 8.8 Billion dollars of tax payer money to recycle. now that's a scam (because people actually believe recycling is good still)
daboodeef179 1 year ago
the reason people bought these homes because they think that their jobs last forever but pariently Surprise Surprise! they either got Fired, or they got laid off because company went out of bussiness iven though you have a job making lots of money, you shoudn't buy a very pricy homes because if you Job breaks down, your Screwed!!!! because you can't pay them back.
sideslide23 1 year ago
WORLD INDEPENDANCE DAY DECEMBER 31ST
I urge everyone in countries around the globe to withdraw all thier money from thier bank accounts with the exception of enough to mark a day of independance of thier country.
America i want the fed to see $17.76 in each one of your accounts by this date!
WarrivarNeo 1 year ago
You are so silly and uneducated that you have no idea what the repercussions of your idiocy could do the the economy. The banks need to suck up the loss of the bubble that they created or the entire economy is going to crash.
You need to do some reading and educate yourself moron.
TheLIGHTinMYwindow 1 year ago
Comment removed
WarrivarNeo 1 year ago
@TheLIGHTinMYwindow sorry spelling error: I have a solution to this problem create a currency that cannot be inflated problem solved!...because if you cant inflate it...it aint credit lol
WarrivarNeo 1 year ago
this is the 2nd dwb vid i've watched & i love this guy. bless you dwb! hang in there man. you're not alone. hopefully enough Americans who are awake & aware will find each other and get the ball rolling before we are flying a flag featuring the Chase bank logo instead of the stars & stripes. amazingly, we still don't have banking regulation. born poor, die poor...
BonzoMoroni 1 year ago
Fuck man ,your absolutely right .
FrankaDith 1 year ago
I lived in Vegas for 3 years.Not once did a pitt boss affor to give me my bet back after I busted at Blackjack.,even when I told I told him I would starve if he didn't...whats next?
vagabonddom 1 year ago
This comment has received too many negative votes show
So why should you get that house at what you call a fair market value. If the person living in it has a mortgage for twice as much. If the banks reduce the principal to what you are calling fair market value, then that person can stay in their house. You are just some coward who never had the guts to try anything, and now you think that entitles you to be a vulture and pick at the bones of the carcasses that you didn't kill..
Dirtbag.
TheLIGHTinMYwindow 1 year ago
@TheLIGHTinMYwindow LOL he's a dirtbag for advocating non-interventionist economics?
If you think it's oh so important to "bail out" the people who spent way too much by purchasing housing in an artificially inflated market, then you and your buddies do it.
jrsub3 1 year ago 5
@TheLIGHTinMYwindow Hey dumb ass the bank should do no such thing. They signed on the dotted line. Scooping up deals when people are down is the American way. Capitalism at it's finest. You are a bleeding heart libtard.
ohioguy156 1 year ago
do you think that the government just went in and "forced" banks to give out money? :D
Darusdei 1 year ago
The problem with the housing market and poor people, is renting costs just as much as the housing mortgages do, The problem we are all screwed is Cause We Have NO more JOBS for the amount of people that need them. People can't even afford to rent anymore.
MstrMnd420 1 year ago 2
Bob, if you would slow down and speak like a normal person you might actually be heard, but at this rate you sound like an absolute moron and people are turning you off before they even hear your message, which by the way is pretty much right on. Cool off and start over, calmly!!
Aliqat11 1 year ago
@Aliqat11 Im sure you aren't losing everything you own.. If you were you would feel more like Bob..
MstrMnd420 1 year ago
@Aliqat11 "Bob, if you would slow down and speak like a normal person you might actually be heard"
He has a very big fan base BECAUSE he shouts the way he does. If he stopped doing that, NOONE would listen to him. How many subscribers do you have? Perhaps YOU should start screaming! What's next, what's next, what's next!
jjenson2006 1 year ago
The sub-prime loans were rated fraudulently I agree, but the vast majority of the loans themselves were not fraudulent. I think all of Government is to blame on this one, Government should not have anything to do with a private industry let the market bare what risk it will bear. However, when the Government stepped in and wanted to regulate Fannie and Freddie, their highest paid employees, the Democrats, who have take millions of dollars every year blocked it. There is no getting around it.
rmckii 1 year ago
SOMEBODY THROWS A STONE -- AND TEN APPLES FALLS
aramiscastel 1 year ago
God bless America.........This is what capitalism does to people.
intioyarzun 1 year ago
@intioyarzun uh actually... this is what socialism does to people. A lot of his rants are towards government screwing things up.
rowland2110 1 year ago
Everyone knows the government is the fraud. We all need to come together as one and over turn the US government. 310 million people can beat the crap out of a few thousand.
Mackdaddy314 1 year ago
Hey, I found some more of these videos here on this website:
m0ar [DOT] org/2794
(Replace [DOT] with . ) - Pretty cool stuff! :D
HotAndSexyBiatch 1 year ago
75% of loans were fraudulent from the Banks and lenders ! – Google FBI+Subprime+fraud
-
During the Clinton Admin., in 2000, because of a -'re-assessment of the housing market'- by HUD, “anti-predatory lending rules were put into place” that “disallowed risky, high-cost loans” from being credited toward affordable housing goals.
cont
hackit12 1 year ago 12
...
During Bush Admin., in 2004, these rules were dropped and –‘high-risk loans’- were again counted toward affordable housing goals.
...
2003 the Bush Administration .., created a new agency .. within the Treasury Department to assume supervision of Fannie Mae.
Bush’s -'Ownership Society Program'- ... encouraging and [Federally Subsidizing - poor people get -'grants'- to help with down payments and closing costs].
cont
hackit12 1 year ago 8
...
The act authorized $200 million dollars per year for the program for fiscal years 2004-2007.
President Bush also tripled the funding for organizations like Habitat for Humanity that help families help themselves become homeowners through 'sweat equity' and volunteerism in their communities.
Substantially increasing, by at least $440 billion, the financial ... involved in the secondary mortgage market specifically targeted toward the minority market.
Cont.
hackit12 1 year ago 6
...
75% of loans were fraudulent from the Banks and lenders !
-
Bush transferred Freddie … etc. to the Treasury; campaigned on the _”Ownership Society Program’- -‘for minorities’- in 2004, Repub. Congress funded it [-‘gave’- grants for down-payments and closing costs].
-
Wall St. knowingly [fraudulently] packaged them – paid the rating companies [S & P, Moody’s, etc] to falsely represent them
as equal to Triple A securities = to Govt. bonds.
And destroyed the world economy !
hackit12 1 year ago 19
@hackit12 youtube.com/watch?v=cMnSp4qEXNM&feature=related
netster007z 1 year ago
This has been flagged as spam show
@netster007z -'/watch?v=cMnSp4qEXNM&feature=related'-
-
?? description ??
bad link
hackit12 1 year ago
@hackit12 There never was an agency created to supervise Freddie Mac and Fannie Mae. Bush tried twice to get a bill passed through Congress to set up a supervisory agency for them, but both times it didn't make it out of the House.
bigravensfan21 10 months ago
@bigravensfan21 -'...both times it didn't make it out of the House...'-
-
YET ... his party had majorities in the house from 1995-2008 .... WTF !!!
-
Home Ownership and President Bush
youtube /watch?v=kNqQx7sjoS8
...
hackit12 10 months ago 4
@hackit12 Why do you think the Democrats were able to stop it both times? The Republicans never held a majority in Congress like the Dems did from 2008-2010. The Republicans from 2001-2008 held a majority without having 60 votes in the Senate and thus could not stop a filibuster in the Senate.
bigravensfan21 10 months ago
@bigravensfan21 actually there was regulation. bill clinton stripped away all the regulation during his joke of a presidency
joeratti 8 months ago
This comment has received too many negative votes show
This guy is far more intelligent than he comes off......it appears he researches his topics quite thoroughly before airing his complaints.......I like him
Jacobrester 1 year ago
i dunno y but i think you should be the next doc brown if they remake bttf coz u remind me of him when he freaks out.... 1.21 GIGAWATTS!!!!????
aln7d 1 year ago
i would honestly vote for this guy for president
orieo56 1 year ago 2
Economy SOLUTION
there is a fix. ONE FIX. before a global depression. and it is simple and can be accomplished overnight. Starting at noon today NO money can any longer collect INTEREST !
sit back and watch people buy cars homes pay off their mortgages build businesses create free markets and enjoy sharing with other countries rather than existing on a military economy necessitating? bombing them.
Too simple for arrogant wealthy politicians and Banks to comprehend.
huggmeok 1 year ago
right on bob, unless you can afford to pay a house off in one year, don't go into housing market, no matter how small or how cheap the house is, don't buy that house unless you can pay it off in one year because even though you have a job, your at risk, because if you loose your job, you won't pay your morgage, and you'll have to leave the house and go rent or move back with your pairents, friends or relatives.
sideslide23 1 year ago
Yes man! People finally need to understand that derivatives are the main cause of the economic crisis.
StonewallJackson26 1 year ago
So we need to design our own houses?
Rob120541 1 year ago
do you got any eye brows?
Jetbus90 1 year ago
good one
Tig0Big0 1 year ago
He has hit the nail on hte head. He's telling on the criminal corporate thugs. Keep talking and keep it up.
ANGELBLU2042 1 year ago
Awesome video! I just want to get a home loan on a house that is a lot bigger than I can afford; you all can help make the mortgage payments! And, their is nothing about socialism in this! LOL
DrKerrPhD 1 year ago
Lay off the caffein buddy, shouting house isn't going to do shit because the dollar is getting murdered as it is.
ultimatelionhearttv 1 year ago
last year in april, they've demolish bunch of the newer homes in Victorvill C.A. , and some of the house has been unfinish some are models home displayed and if more homes goes forclosure, and nobody buys it at all so they destroy house, pariently its a crisis no longer a scam so its been happening allmost every day. and the house that was $300,000 are now $150,000 and will never go back up untill 2013. would we have a second chance to live in 2013 or would we all be dead? who knows?
sideslide23 1 year ago
Where are you getting the facts to support all of this???
Joyride124 1 year ago 2
Anything, ANYTHING the government touches turns to shit.
djbishop30189 1 year ago
this guy never gets old. i haven't seen a video posted by drinkingwithbob that i could disagree with.
thanks bob!
GypsyLifeForMe 2 years ago 3
your awesome
hfdpayner 2 years ago
A "responsable" person can still lose their job...after 25 years and not be able to find a job. I know a guy that payed his bill ,worked for the same company for 22 years, and was laid off. Now its been 2 years and NO ONE WILL HIRE HIM. He was "resposable" now he's fucked. Is that his fault...I'm asuming you havent been laid off.
weaponX1 2 years ago
@weaponX1 - damn straight. I always wonder about these hysterical types insisting home losers were irresponsible. WTF - do they think the loss of insurance and medical bankruptcy is a lie? Insensitive bastards!
paddedshell 1 year ago
thomastholin 2 years ago 2
That's just racist against oranges Bob........
hertdebert 2 years ago 2
hahahaha
onofomi 1 year ago
luckily I was single. I knew a few men who wanted to sell, but the wives were so feeble minded , they would let em. now they want divorce.
fedtheend 2 years ago
no kidding. that's why I sold as soon as I saw banks offering 500,000 dollar loans to people making barely enough to afford a minimal car payment.
fedtheend 2 years ago
bunch of the newer homes in victorvill C.A. has been destroyed.
sideslide23 2 years ago
Comment removed
sideslide23 2 years ago
I like Bob :)
hyroglyphx 2 years ago 2
This guy is so right. Unfortunately, the same thing will happen with socialized healthcare for all. Prices will skyrocket now that the govt will subsidize it. Taxes will have to rise to like 90% if obamacare passes. People in this country are so stupid. Liberals have ruined this country with wanting to help everyone and put them in a home. They have done more damage than a standing army.
30percentplusreturns 2 years ago 4
Don't dilude yourself. "Liberal" Democrats and "conservative" Republicans, as well as the Federal Reserve, are all guilty of our current depression. Republicans did nothing get government our of the housing industry in the six years they held both the executive and legislative branches.
Home Ownership and President Bush
watch?v=kNqQx7sjoS8
Thomas Sowell Blames Housing Bust on Frank, Bush, Greenspan
watch?v=E1KwkScA540
Ron Paul Was Right (1983-2008)
watch?v=-pKb4U5qDsc
bcsizemore 2 years ago
@30percentplusreturns Yep, it's NObama's gift to all the homeys. His dream. Nice. Pretty soon we'll be run down like South Africa is now.
RavensFan2812 1 year ago
keep doing what you're doing dude...you make a lot of sense
drewpdrew2004 2 years ago 5
Would like to mention in Australia, we are the most expencive country to buy everyday items, grociers, petrol/gas, utilities etc....
The media Australian house price is 70% over priced and rising very fast, to buy a house in any city in Australia, you need min...$400,000 dollars.
40% of Australian homes is mortgaged, most are beyond what they can afford.
Just letting you people know!
MRMILO57 2 years ago
how much is the homes in Alice Spring?
sideslide23 2 years ago
sideslide23 .....Alice Springs is not a major city, but I have done some research and I can't find homes under 300,000 Aust
MRMILO57 2 years ago
obama should listen to this instead of screwing the people who pay their bills. this guy is right, maybe noisy about it, but right. so, you people out there stopping asking for hand outs and go to work.
onemarktwoyou 2 years ago
Ironically, Bob shared this two days after the banks bottomed on Wall Street. Life has been smooth sailing ever since and the foreclosures on the Jumbo Alt-As has been sweet as well with nice houses selling for 2/3rds their 2006-07 highs.
EricTheOracle 2 years ago
yeah...only problem is, they are only worth 1/4 of their 06 highs at the most.
govt props of banks will work until they don't. problem is, at that point it will be the gov that fails...then you'll find out what you were relying on gov for all those years (public safety), not no-lose casinos for the privileged few.
fubarrio 2 years ago 2
wow! u are so not jellin
LShoniXXX 2 years ago
this guy is a genius!
forexyellow 2 years ago
The government never gave people moent and told them they can only spend it on homes. Banks had crazy loan rules that allowed them to give out unrealsitic loans that had ridicioulous interest people really never had a cahnce and were lured by greedy banks to buy or refianace with their loan program. The iresponible people were the banks and dreamers wanting to buy their firsy home or new home etc.. Banks are the problem not some evil governmen conspirqcy.
auburn722 2 years ago
Who do you think pushed them to have such lax regulations.
/watch?v=aIm5Mp-mmRU&feature=fvw
Binarykode 2 years ago
Good thing I stocked up on apples, those are next
kuruptsoul 2 years ago
BOB 2012
HayateAce 2 years ago 4
Agreed this man needs to run for president ppl tell him to chill but i think his anger adds to the greatness of his points your paying more attention
jd234 2 years ago
that's right hayateace! BOB 2012!!!
benevolentcaucasian 2 years ago
Skank.
Obamaluver100 2 years ago
very well spoken
travisalger 2 years ago 2
fucken evil hillary clinton and mc cain shit and freemasnory
belagiorgo 2 years ago
You speak the truth young man but you'd best lay off the caffeine.
es347 2 years ago 3
Your the fuckin man
ontime34 2 years ago 4
YEEEEESSSS.
This MAN has NAILED IT.
HayateAce 2 years ago 5
Paid $1000 for an orange today, can't afford a grapefruit but working on it.
buzzz121 2 years ago
lol
pretorious700 2 years ago
So true!!! Great man!!!
migumusi 2 years ago
funny how the adjustment of the principle on these bank loans is never discussed
salgamripper 2 years ago
ILY BOB!! WAKE UP!!!!!!!!!!!!!!!!!
WOOTMIX 2 years ago
THIS GUY IS A TWEAKER....
drkenniblelecter 2 years ago
This comment has received too many negative votes show
stop bitching dude you live in your moms basement bob you donthave to worry about that.. just go in the fridge and scratch your ass
FWPSOLja 2 years ago
Bob for congress!!!
You got my vote!
aprilapril1234 2 years ago 5
This comment has received too many negative votes show
sounds like someone has anger issues
income27 2 years ago
Yeah, but I kinda like it. It sure beats the people I know who are just sitting around whining
sozcaps 2 years ago 2
looks like someone has apathy issues
regresseur 2 years ago
sounds like someone has anger issues
income27 2 years ago
wow !!!
gizmox4 2 years ago
woooooooooooooo i like the end bit its better when u shout louder haha
MrDanTorino 2 years ago
Actually banks don't lend money. The money that funds a "loan" is created by the signature of "the borrower" who in reality is the the "creditor" making the loan to the bank who then has the "borrower" sign an agreement obligating the "borrower" to pay back the principle he created plus interest (which isn't created and therefore is why mathematically a certain percentage of mortgages will default) to the bank who has nothing at risk and never owned the home. Nice scam! Now, where's my bailout?
RandyWayneFricke 2 years ago 3
So, Bob, i can understand that one may assume it was all a big scam of some sort, but I saw it first hand and I think no one thought it would ever get this bad. I got more info for you. I you'd like to know just ask me. What I know I will answer.
commentfromeddie 2 years ago
The state and federal goverment is indirectly at fault, not because of some big conspiracy or set up but because it did not correctly regulate and police the housing industry. There were some regualtions but they very loose, poorly policed and hardly if at all enforced.
commentfromeddie 2 years ago
The mortgage crisis was caused because of fraud within the industry itself. At the request of the loan officer and realtor, appraisers were always squeezing as much value out of a house in order for the loan officer and realtor to get a bigger sale hence earn higher commission. This is just ONE of many frauds that contributed to where the housing market is at this time.
commentfromeddie 2 years ago
the value of homes are dictated by the sale price of other homes in a certain area, ie: if my current home value is 200k a comparable home in the vicinity sells for 250k, the effect it will have in my home would be an increase in value. I 've been in the mortgage industry for over 10 years. So my question to you is: what are you talking about?
commentfromeddie 2 years ago
Bingo, Bob. Don't stop.
oran6es 2 years ago
Care to explain what you meant when you said about the government "forcing" mortgage companies to make loans to people who couldn't afford to pay them back? Be specific. Volume doesn't equal truth.
OlivierdeAthos 2 years ago
OlivierdeAthos : since when do people who earn very little buy into a house mortgage anyways? If that weren't true , nobody would rent anything to live in. No there's nothing going on : Where did Enron go ???? Are you from outer space?
fthrcast 2 years ago
I have no idea what you're ranting about. I asked a very specific questions: how did the government "force" mortgage companies to make loans to people who couldn't afford to pay them back? (This is usually answered by some untruths about what's in the CRA, since very few people are aware of what's actually in it.)
OlivierdeAthos 2 years ago
OlivierdeAthos : the employers couldn't pay their employees enough to buy homes , so they suggested that it be government funded. The government told them not to lie to them which started a political battle that led to banks lending to unqualified buyers. This all spells out the same thing - that employers don't want to pay certain employees no matter what they are capable of. If it can be done with a debt to a bank , it is doable in their minds. It's a fraud and a legal ripoff on people.
fthrcast 2 years ago
Best video I've ever seen by Bob
AirelonTrading 2 years ago 2
My sentiments exactly!
adiksas19 2 years ago
Bob you are fucking legendary.
strongbadXCP 2 years ago
I love all your videos. We the people are pretty stupid. Just a bunch of dumb sheep.
caganb 2 years ago
Great work Bob,
I'm amazed that you manage to keep the speech coherent and the ideas flowing whilst shouting.
You got talent!
lokir 2 years ago 4
Bob, I like you. Keep up the good work!
Jut
jutandchris 2 years ago 5
This has been flagged as spam show
Legalize Cannabis. It's 10000X less harmful than nicotine, alcohol, and most of the over the counter drugs.. Marijuana is a good cure for insomnia, anxiety, paranoia, depression, stress, anorexia, or natural loss of appetite.. Great natural muscle relaxer. Plus, legalizing would improve the market by starting businesses that sell plants and seeds, then more jobs would be available. I could smoke 3 blunts of it and not overdose like the crap capsuals and pills, that are 'painkillers'.
MetalBassjunkie420 2 years ago
First the government housing scam....and now the Gotti's might lose their Long Island mansion? What is this world coming to...where are they going to live, in the apartment next to mine? I hear those Gotti boys are loud and rambunctious...hope they don't move into my building.
heavnnnsent 2 years ago
Keep em coming Bob.
Goldwater08 2 years ago 5
wow. i thought this guy was a total angry sniffer at first.
but after watching the entire video, bob is right. well done, good sir.
but lay off the Red Bull, chief.
danbrett1 2 years ago 5
BOB tells it like it is. He makes total sense. Keep going. I'm getting a degree by watching "DRINKING WITH BOB 101" and I've also by the way, stopped buying oranges...The government always comes along and artifically inflates everything. That is Lesson # 1 in today's "Drinking with Bob 101" - kids, listen and learn!!!! Grown ups, WAKE UP & Stop watching American Idol and Dancing with the Starts. START LISTENING TO DRINKING WITH BOB!!!!
heavnnnsent 2 years ago 5
I don't remember how I found Bob but I'm glad I did!!! :^)
Kevbox2008 2 years ago 3
Love the guy...he acts just how I feel...right on Bob!!
wwjdlaslo 2 years ago 5
Him for the president!
BowBeforeTheTruth 2 years ago 4
AMEN!!!
Blue21Films 2 years ago
This comment has received too many negative votes show
OMG don't Murder Us.!!!!!!!!!!!!!!!!!!! oOOOOOOOOOOOOOnoooooooooooo he's a NRA Member.
neoContraVo 2 years ago
I drink before watching his vids
caganb 2 years ago 2
Sounds like fun.
I should try.
RedeemerRed 2 years ago 3
wow that was actually a fantastic debunk of keynesian economics. Great job
xkeltoix 2 years ago 3
Agreed!
RedeemerRed 2 years ago 2
1.take ur middle finger and put on ur nose.
2.say a name of someone u like.
3.that person will ask u out or say they love u tomarrow.
4. heres the thing copy and paste to 2 other vids
Aznadjacent 2 years ago
hey Aznadjacent, how 'bout this:
1.get a dull, rusty pair of scizzors
2. cut off your ball sack
3. cut it in half
4. put one ball down your throat and the other up your ass
5. choke, bleed to death and quit playing this STUPID game!!!!!!!!!!!!!
avastacia 2 years ago
Bob's da man!!
Cleanuponaisle11 2 years ago
Bob for President of the World!
Shredlesy 2 years ago
I agree with you bob. keep drinking!
Michaeltanase 2 years ago
The Derivative bubble is what created the loans, even if you are responsible and paying your mortgage, the derivative market crash eliminates jobs and equity. How long will you be responsible on the house you could afford with no job. Good Luck responsible people....
traynickel 2 years ago
Hilarious.
TheLiberator55 2 years ago
Bob, you're a genius! Love your videos. Do you feel better after ranting? It looks cathartic. I do that sometimes too (but not on camera). I always feel better after ranting.
PatsBlog 2 years ago
did u guys know theres more crap on the national news about obamas dog than some good things obamas done. obama is a fucking joke. COPY AND PASTE!!!
dedadadum 2 years ago 2
President Obama's done good things? For whom?
PatsBlog 2 years ago
U should run for pres. obama is the biggest liein piece of shit to ever walk the earth, that fuker should be lynched
BootsyBrootal 2 years ago
your mom should be lynched. dont blame obama, blame america for following criminals and not doin anything about it
mercurymafia 2 years ago
blow me
BootsyBrootal 2 years ago
LOL BootsyBrootal... Bob bob bob!!
AfroSchmuck 2 years ago
Don't blame America for following Obama and his criminals. The people were fed a bunch of lies and digested it.
Upcamehill 2 years ago
Amazingly lucid and very scary arguement. Amazing as usual Bob.
spanky061970 2 years ago 2
BOB! I LOVE your vid's. You be da man!
Keep tellin' em, and keep the vid's coming.
TuxLady 2 years ago
This has been flagged as spam show
DUDE! Take a deep breath and get over the fact that MCcain and the Republicans crashed & Burned. Republicans blew the last 8 years. Now, TAKE YOUR MEDS.
mikestrek 2 years ago
Good Job Bob. That was Awesome!
onebodine 2 years ago 2
These vids are awesome. Love this one. You explain the whole situation so simply with the orange metaphor. Great stuff.
Crazycardfreak 2 years ago
This comment has received too many negative votes show
bob, dont compare life to oranges, its dumb.
everyone else, this guy is using his boisterous attitude to win you over. its basic public speaking to "gain attention"
the gov't was looking out for the people, helping them to live free. basic supply and demand is what happened. the gov't was helping the lower class people to survive. its unfortunate that you rich liberal people only want to help yourselves out and no one else.
this is a part of life. we have seen worse, we will survive.
donger7051 2 years ago
Spot on, BOB ... A big thanks to the Dems & their willingness for Fannie/Freddie to go unfettered and lend to every indigent person in the nation. Meeks, Frank, Waters and the rest = big, stinky a-holes
danimal9579 2 years ago
I go into really nice new neighborhoods. There are gangs, graffiti, new houses being run down. The government took the ghetto people and gave them nice homes. These nice neighborhoods will turn into ghettos soon if the scumbags