The mortgage problems started in 1993 when Bill Clinton expanded the Community Reinvestment Act. This required banks to provide more mortgages to low-income "bad credit" people. Eventually, The US imposed a requirement on Fannie and Freddie to produce X mortgages to low income people. With so few low-income people with good credit, they had to lower their standards. Thus the bubble burst.
Bad things happen when Republicans are in office, because of the Democrats that came before them!
Sadly America has commited the crime of the century. Dumping worthless assets around the planet to keep their own inflated and greedy lifestyle going. Trouble is no one quite rightly will ever trust America again. Only a fool lets himself be swindled twice by the same bunch of crooks. That is why we are not going to talk our way out of this crisis any time soon.
@bayhoecott Sadly had Europe not bought into socialism, they wouldn't have been depending on the United States for their financial security. plenty of blame to go around. now had the politicians in the U.S. not bought into socialism, they would'nt have been forcing banks to make loans to people who had no chance to pay them back. now showing how insane he really is Obama is prodding banks to make more loans to those who can't afford to pay them back.
Well done Bird and Fortune for explaining credit crunch started by flawed sub-prime lending in the USA. Thanks for sharing the clips that explain lies behind crunch, and the bailout lotteries to help rich friends.
This comment has received too many negative votesshow
Shut up how dare you allow this stupid video to be allowed fuck off how people have lost their jobs because of stupid asshole wankers of bankers shut up you are an asshole just because you got a job and loads of fucking money does not mean anybody else has fuck off stupid fucking Bankers they all need to Fucking Burn in hell and all fucking MP's as Fucking Well.
if you are unable to understand the video, then keep your moronic opinions to your self, this is taking the piss OUT of these bankers, and explaining how they did and still are getting away with it, what they do on this sketch is nail what these bankers are doing, which is clearly beyond you, so I stick to my previous statement.
This comment has received too many negative votesshow
Don't fucking tell me to keep my fucking opinions to myself i'm fucking allow my opinion as much as you shut up just because you want to live in a fucked up world full of asshole Bankers and Mp's dosen't mean anybody else has too Fuck Off.
Yes, the journalist says that the government is prepared to tell the public lies about the reason to invade another country (IRAK), one of the cuts of this video.
ty
makeiteasyable 2 months ago
why were u cutting some lines ? Silly moron.............
tavvenbizzy07 1 year ago
What's up with the sound?
Nibinaear 1 year ago
"It's as sophisticated as it ever gets..." Oh this is great. This is a gem...too good
USASalim 1 year ago
Credit Crunch
August 1 ,2010
GOVERNMENT-MORTGAGE-RELIEF
SHORTSALE1000
1-800-270-2928
shortsale1000 1 year ago
The mortgage problems started in 1993 when Bill Clinton expanded the Community Reinvestment Act. This required banks to provide more mortgages to low-income "bad credit" people. Eventually, The US imposed a requirement on Fannie and Freddie to produce X mortgages to low income people. With so few low-income people with good credit, they had to lower their standards. Thus the bubble burst.
Bad things happen when Republicans are in office, because of the Democrats that came before them!
johnsonm3012 1 year ago
i blame bush....
WHYSthatTHEN 1 year ago
knowing this is improv makes it even funnier
indianaike 2 years ago
I doubt that this is improv...
kibk8al 2 years ago
Sadly America has commited the crime of the century. Dumping worthless assets around the planet to keep their own inflated and greedy lifestyle going. Trouble is no one quite rightly will ever trust America again. Only a fool lets himself be swindled twice by the same bunch of crooks. That is why we are not going to talk our way out of this crisis any time soon.
bayhoecott 2 years ago
@bayhoecott Sadly had Europe not bought into socialism, they wouldn't have been depending on the United States for their financial security. plenty of blame to go around. now had the politicians in the U.S. not bought into socialism, they would'nt have been forcing banks to make loans to people who had no chance to pay them back. now showing how insane he really is Obama is prodding banks to make more loans to those who can't afford to pay them back.
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DARKnDODGY 2 years ago
Well done Bird and Fortune for explaining credit crunch started by flawed sub-prime lending in the USA. Thanks for sharing the clips that explain lies behind crunch, and the bailout lotteries to help rich friends.
fixyaexperts 2 years ago 8
This comment has received too many negative votes show
This is not funny i'm not Laughing
Look how many fucking people have lost there jobs look how many people and taken their own lifes because of this Banking Crisis.
This is video is Morally Incorrect and also a disgrace to this country.
This video should be removed of you-tube all videos like this should be banned.
Ultrazord100 2 years ago
and you should crawl back under whatever rock you came out from under
apathyriot 2 years ago 4
This comment has received too many negative votes show
Shut up how dare you allow this stupid video to be allowed fuck off how people have lost their jobs because of stupid asshole wankers of bankers shut up you are an asshole just because you got a job and loads of fucking money does not mean anybody else has fuck off stupid fucking Bankers they all need to Fucking Burn in hell and all fucking MP's as Fucking Well.
Ultrazord100 2 years ago
if you are unable to understand the video, then keep your moronic opinions to your self, this is taking the piss OUT of these bankers, and explaining how they did and still are getting away with it, what they do on this sketch is nail what these bankers are doing, which is clearly beyond you, so I stick to my previous statement.
apathyriot 2 years ago 12
This comment has received too many negative votes show
Don't fucking tell me to keep my fucking opinions to myself i'm fucking allow my opinion as much as you shut up just because you want to live in a fucked up world full of asshole Bankers and Mp's dosen't mean anybody else has too Fuck Off.
Ultrazord100 2 years ago
@apathyriot This is too funny especially the end. Kudos for whoever placed it
Thanks
Somair6469 8 months ago
john bird is always the best playing the interviewee, just brilliant - the admirals interview was the best one
lichenxu123 2 years ago
great
morizbliz 3 years ago
What's the point of all the cuts? I preferred the original skit.
olvr86 3 years ago
funny
xjimbobx666 3 years ago
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cashwithchris 3 years ago
Nice vid. Thanks for sharing.
MyFreeCredit 3 years ago
Clever editing, 'he's just put 10 pounds into the banking industry!'
chrissaboy 3 years ago 3
Does anybody know where the script of this can be found? I find it difficult to follow at times, and it's true that some bits are missing.
rpsdmp 3 years ago
Yes, the journalist says that the government is prepared to tell the public lies about the reason to invade another country (IRAK), one of the cuts of this video.
mikalo1616 3 years ago
Funny clip as always from Bird and Fortune but it appears to be awkwardly edited and missing a few seconds.
PaulSebert 3 years ago