NYC protesters demand freeze on home foreclosures

[bronx7542]

How about getting rid of all the Mexicans and give money to the citizens to establish business.

[hbloch1]

Toll Brothers Luxury Housing...........Go to Youtube...........Looking for Schmucks

[reddracoqueen]

Down with the illusion of money! It is all make-believe worthless system only have faith in that supports it.

[ThePrezidentialbey]

IMPORTANT!!! Watch "A HOME FIT FOR ROYALTY"

[blaknoizee]

THIS is why they want to censor the internet, real, useful news. Not fail journalism of the corporate owned media. They've gotten wise to us getting wise of them

[sewagedweller]

right , blame the government , not your own stupid , irresponsible behavior and taking loans you cannot possibly pay . Sure government screwed up by failing to regulate market , and insuring that people who cannot pay dont get loans assuming increasing house prices will solve their problems . I say screw those bastards learn to take responsibility for your actions assholes .

[blackberrypimp89]

jessie jackass love the KKK dems are the party of the KKK nazi dnt you love them look it up for your self

[idiotfinder911]

The Democrats caused this entire thing, and people STILL are out of touch with reality.

Its in every fucking persons face.

[blackberrypimp89]

@idiotfinder911Democrats kill every thing they touch

[idiotfinder911]

@blackberrypimp89

True words from a wise man!

[Kottwell09]

Man it is amazing how totally clueless people are to what really is going on! Itis not longer about people who got an Arm loan, infact that is just a small portion. Educate yourselves people, You are being just as ignorant as those who bought into the subprime scheme

[jlkendri]

wow, so stupid. If you bought something and you can't pay for it, you lose it. duh. Excuse #1: "I lost my job because of the bad economy which is why I can't pay for it". If I lost my job, I would be in mortgage trouble too. I would then MAN UP, take responsibility and handle it. Yes, i might lose my house, instead of going crying to the feds. What do you want? You want your fellow taxpayers to pay for your problems? really? Because the government HAS NO MONEY, it all belongs to the taxpayers.

[rosieyposie7]

I AGREE 100 %

If any HOMEOWNERS today are facing AUCTION BLOCK" BANKRUPTCY"

SHORT SALES" or FORECLOSER@CIVIL SUPREME

& you want to SAVE YOUR HOUSE"

DONT TRUST YOUR ATTY to do it 4you"

YOU can do it YOURSELF@CIVIL SUPREME & file MOTION to your PLAINTIFF ATTORNEY

to PRODUCE your ORG.SIGNED BANK NOTE as we learned the hard way

AFTER 4 YEARS DEFAULT by LOST NOTE of COUNTRYWIDE in COURTS by BANK OF NY!!!

Rosiey

[Rspringscabin]

L2read what you sign dummies

[NYCbankruptcylawyer]

Great video!

[callmebaldy]

'more help for victims of sub-prime mortgage meltdown'. What victims???? SO not reading what you sign and being stupid with your money makes you a victim??

[JLIGLAWALKER]

You are so mis-informed ad prematurrly smug. Wait until you lose your job for about a year then comeback and leave smug little comments. Not all people made the over buy mistake. many were making incomes in excess of 100,000 now down to zero. Stop drinking the kool-aid.

[BlackMask2012]

I agree, just purchased a house and I made sure it was 30 yr fix.

They should have never forced the banks to loan to poor/minority borrower.

I'm not white and I'm sick and tired of people saying it's because of this or that. Especially people born and raised here.

[sports89man7]

gotta throw up the race card... goddamn niggers

[blaknoizee]

@sports89man7 even though this is a year old post. He kinda threw up 5 race cards. And why care, wait till your family has to deal with it. "Niggers" or not, your in this country as well as me. If we get beaten out by the rich; you can yell nigger nigger nigger all day long, but u will be on the street, just like me.

[77musica]

@sports89man7 please go to Harlem and say this to the first person you see, I will pay for your ticket, please go. You will be o.k., I promise, but just go and say what you wrote in you underwear at home.

[furtherbeyond]

Let them get a freaking apartment. They chose to sign the dotted line for an adjustable rate mortgage without reading the agreement and without hearing the banker explaining the details of their mortgage and then they got all surprised when their payments doubled. Poor babies, now they all go crying to Obamadaddy. I worked for 2 years trying to help these morons out of the hole they got themselves into. Each excuse they came up with was lamer than the previous one. They did this to themselves!

[zest4livin]

If they want to run you out don't go, squat there. If they force you then come back and burn it down.

Move all tents and trailers to the white house lawn, until they force you to move when they lay $200m worth of new grass.

[wazoome]

Bail yourselves out the same way I did when I lost my home years ago. You'll be happier when you correct your budgeting strategies. And maybe some of us would like to own homes too and the dropping prices make it possible. Get a spine and stop the self pity.

[mongobobo]

Hey guess what!! We also have a big unemployment problem too! Why don't we put a freeze on unemployment as well!??

How much sense does that make to you? If I'm working hard to pay my mortgage and we have a government sponsered freeze on foreclosures, do you think I'd continue to pay mine?

idiots.

[ciro9]

bogtrotter52:

The United States may be a Republic but it does have Socialist program's to help those (perhap's you or a love one one day)in time's of crisis such as unemployment, Medicaid,

Medicare Prescription Drug Plan etc. Your public school system is a socialist program.

The list goes on and on and I'm only doing my best to add another one to our great Capatalist Socialist Republic nation of our's for our children & grandchildren.

[ciro9]

The newly elected President Barack Obama could enact(once he takes office)to federally mandate long term loan modification's (interest) on behalf of all Americans with ARM Negative (sub-prime/ deferred interest) mortgage loans (the main reason for foreclosures) at a low interest rate (fixed by the Federal Reserve Bank) for 40 & 50 year's, depending on income. Leaving it up to the bank's to do this is akin to putting the fox in the hen house to protect them.

[bogtrotter52]

Jesse "Poverty Pimp" Jackson and his army of freeloaders. Screw 'em.

[bogtrotter52]

"should be granted the right to borrow a low interest home mortgage loan"

Hey ciro9, spoken like a true socialiast asshole. Try WORKING and SAVING for a home. I laugh at how every dumbass who got a sub-prime mortgage thinks they are a "victim". Bullshit, they are just stupid losers who never should have been allowed to buy a home at all. I bought a modest home, fixed it up, and it is now more than half paid for. I owe losers like you NOTHING.

[teymani]

for all the fools who think that little or no money down make them owners , wake up u idiots, u dont own it, the bank own it.if you dont have the cash for large money down payment dont buy it, the mortgage payment will be hard to pay , jackasses, and dont expect us taxpayers to bail u out , you greedy morans.go and rent work hard so your kids get good education and they will be able to buy a house not you,thats how it was and should be in this country.

[ciro9]

Excerpt from today's New York Post.

"Fannie and Freddie had become classic examples of "crony capitalism." The "cronies" were businessmen and politicians working together to line each other's pockets while claiming to serve the public good. The politicians created the mortgage giants, which then returned some of the profits to the pols - sometimes directly, as campaign funds; sometimes as "contributions" to favored constituents" (end of quote).

[ciro9]

"We the People" who do not have high paying jobs should be granted the right to borrow a low interest home mortgage loan based on income directly from the Federal Reserve Bank which should be nationalized for the people of our nation who for to long have been enslaved by bank's and lending institution's by high interest rates on money that they receive from the Federal Reserve Bank. Why shouldn't we & our families do the same?

[aviomaster]

OTHER countries have OIL ...

[tomincal]

I think if we killed all the Jews, Niggers, Spicks, Gooks the problem would be gone. 88

[YouGotEnoughFreebies]

THEY have HR 3221 & THEY have Section 8. They don't even need to work, just apply and GET, GET, GET for free. Notice how areas have changed since the 1st Section 8 Voucher/Renter/Homeowner Funding Bill Changed Neighborhoods and Citys, Towns & Rural areas too with their 'Target Area' to put inner city Blacks into Rural areas? Since JULY 2007 the Section 8 Voucher Program, has FED these People extreme amounts for DAP & 3% loans with 40% Down Payment Assistance. Just wait till' S 2684-They get more

[statelybird3]

Fuck you---I guess if we knocked off all the ignornat white fucking trash like yourself,a LOT of problems would be solved.

[tomincal]

silly nig gers homes are for aryans 88.

[statelybird3]

silly racist motherfucker,I guess anybody that's white and NOT an aryan dosen't deserve a home either, dumb ass?

[blacksilverjose]

how about us

[blhackjack]

It is amazing what people think they are entitled to. People have been trying to live a lifestyle that they have neither earned, nor deserve. NEWSFLASH:$15 an hour does not qualify you to move into into a $500,000 house. Most government, city, and county jobs won't get you into the same neighborhoods as doctors,lawyers, and scientists.

[whitedane]

lol, so true. They signed on the dotted line. They new what the contract said,(other wise they shouldnt have singed).They screwed up, live with your decision instead of complainling.And why bring race into it?Like they cant read?

[tishigunni]

You are an ass. you will always get dicked if you feel the banks and corperations can do no wrong. many doctors and lawyers are in trouble. ask Ed Mcmahann

[GOOFYWOOFYDOOFY]

qualified me to acquire 4 homes jackoo. who are you, mr. trump....

[larrythemalicious]

People are gonna have to get used to the idea that once the depression hits, former home owning americans are going to be living on the streets and eating from dumpsters.

[larrythemalicious]

why do people think they deserve housing when they produce nothing?

[itsacorporatething]

the entire united states produces nothing, except for a few quirk industries like "defense" and of course agricultural(3% of the population are farmers). We are a consumer economy. every human being deserves housing...

[larrythemalicious]

So you have the right to rob me of my income and wealth to give yourself the housing you deserve? go fuck yourself.

[itsacorporatething]

So you have the right to rob me of my income and wealth to give to giant corporations? go fuck your self.

[GOOFYWOOFYDOOFY]

hey larry sonny boy. you'll be paying taxes for me to keep 4 homes. hahaha and not shit you can do about it so keep working hard and pay your taxes so i directly benefit fuckwad!

hahahahaha

[loveliberty1776]

"the entire united states produces nothing, " that's an asinine remark. You obviously don't know anything about economics. Everytime someone constructs a new home they produce something.

[dorkwad06]

loveliberty1776: You are a fool. When a new home is constructed, that is an example of a non-tradable domestic service. Our entire country has been transformed from a manufacturing super power, to a nation of people working in government and domestic service jobs. If we no longer produce durable goods for export, this country will become a third world banana-republic. In fact, we are already there.

[loveliberty1776]

Even if the trend towards a service sector is disdainful. America still produces tangible goods and services. America does need a mfg. base. I lay the blame on the lap of our inefficient corporate tax structure and corrupt fractional-reserve banking system.

[loveliberty1776]

Jessie Jackson sucks. All of these government price-fixing and rent control schemes only cause distortions in the economy.

[itsacorporatething]

but government subsidies, corporate bailouts, and corporate welfare don't create distortions in the economy?

[loveliberty1776]

"but government subsidies, corporate bailouts, and corporate welfare don't create distortions in the economy?"

Yeah, it does, but I don't favor government subsidies, corporate bailouts, and corporate welfare. Do you?

[itsacorporatething]

we have any agreement! I hope you are like a small scale capitalist person (small business etc); that would mean that we are essentially allies. we both want local fair economies which can provide for everyone; not giant, unfair corporations. unless of course I'm putting words into your mouth. its very convenient for the ruling class to pit people against each other for minor differences.

[jenniferann2]

This is what happens when uneducated people find themselves at the mercy of the big fish, this is all very sad for everyone involved, it just goes to show how far the concept of entitlement can go. Interesting.

[alanhowitzer]

Affordable housing is making housing unaffordable lady.

[loveliberty1776]

That's the smartest thing anyone said on this comments page.

[alanhowitzer]

This is gay. How bout my credit cards or student loans. I don't want to pay those either.

[flydl2atl]

These people aren't even home owners. You have to pay off the home to actually own it. These people are merely renters being kicked out by their landlords (banks). How can they lose something they never owned???.....I just don't get it.

[00643981]

Banks loan money they don't have. Then foreclose on people's property when they don't get "paid back". Don't believe me? 14th edition Encyclopedia Britannica: "Banks create credit. It is a mistake to suppose that bank credit is created to any extent by the payment of money into the banks. A loan made by a bank is a clear addition to the amount of money in the community." Google "Fractional Reserve Banking"

[miketheinfidel]

so if they loan money they dont have how do they pay off the seller think about it plus if you sign a arm loan you better know what you are getting into.

[statelybird3]

So what if they don't own the home? They are still LIVING there and paying rent. I know of a woman who was renting a house here in Detroit---her landford lost the house, it got foreclosed on,it got bought by a foreign company, but she was never informed, and continued to pay rent until the morning she called and told she and kids had literally 4 hours to get out of the house. She never even got an eviction notice, which by law she should have. People who rent aren't worth less than homeowners.

[GaryVolts]

These dumb dumbs are part of the subprime crisis. They responded to the Feds easy money asset bubble mania. Its the investors (peoples' pensions) that bought these crap securities that will lose. These complaining people have no equity so they own nothing. When they move out another family will move in. Why is the first family any more important than the second? The only way this wouldn't happen is if the banks are enabled by the Fed to hold these houses vacant by low interest rates.

[x3mec8ses]

HELP! WHERE IS MY MORTGAGE BANK HOMECOMINGS FINANCIAL A GMAC COMPANY. IS NOT WILLING TO NEGOTIATE. "Project Lifeline," backed by the U.S. Treasury and Department of Housing and Urban Development, would pause foreclosure proceedings for borrowers more than 90 days is being undertaken by six mortgage lenders that are Bank of America, JPMorgan Chase & Co, Citigroup, Countrywide Financial, Washington Mutual and Wells Fargo.

[GaryVolts]

Why do they need to negotiate? If your house went up in value instead of down, would you be willing to give them some of your unearned winnings? You have a contract, one of the options is to surrender the collateral.

[aardvarktheanteater]

You think the banks are any better? Many people receive bank loans and have their homes foreclosed.  In advance before the banks give out the loan they can simply tell who can and can't afford it. But obviously they don't care about any certain person. They are just thinking about the millions they are making. Though people are to blame for orginally accepting the bank loan, i think the bank is equally to blame also.

[lawbeat3]

It's too bad the American people are so ignorant about how money works in relation to law. People are losing their homes all over the place due to simple ignorance of how the process of foreclosure is manipulated against them. I know over 15 people who saved their homes in court just by taking the time to study and learn the law...seems saving a home would be worth THAT much, right? Sad state we live in when people are willing to give up their homes just because they choose to remain ignorant.

[pharmacyiii]

If the owners of a foreclosure home worth $500,000 is seized by the bank because the owners default on $100,000 remaining, does that mean I only have to pay $100,000 and the $500,000 home becomes mine 100% legally?

[SoloAxe]

Hahaha ya "particularly people of color" were dumb enough to buy what the coulndt afford and not think about the future. Blacks are always being taken advantage of ?

[ozzyzoe]

I love the way, people blame everyone but themselves. They blame everyone else, but then run screaming for help from the government. it's not bush, not the banks, not the mortgage companies, it's YOU. Look in the mirror, that is to blame. You screaming morons are pathetic. Brokers? Executives? Yeah right it was all a scam. They forced you at gun point to buy a house...yeah right. You are to blame, no one else.

[timbosforporn]

If banks can't reposes loans then they ain't going to make the loans in the first place. Do you think they are just going to give you 100, 200, 300 thousand dollars and not have some kind of security behind it.

Think people!

[joshuaw33]

Is it just me or has common sense been thrown out the window?

[shubz911]

PLEASE DON'T READ THIS. You will get kissed on the nearest possible Friday by the love of your life. Tomorrow will be the best day of your life. However, if you don't post this comment to at least 3 videos, you will die within 2 days. Copy and paste this, to be saved.

[look2leap4]

Sadly the revolution will Not be televised>

[zlector]

You fail to pay the account closes

[DVincentW]

You fail to breathe, you die.Fascist.. Oh thats a complement to you.

Zach you will be silent one day this earth will swallow you up you will know fear you will cry for your mom.

You will be SILENT.

[kuwiguy]

Vote Ron Paul to save us from this greed!

[fordsmith]

give the vacant houses to the iraqis

[OscarLimaMike]

And then charge the gov't a hundred million a piece. Like Haliburton would..... Don't give them any ideas.

[alabasteroldsoul]

Just what we need, more government interference in the market. The government is supposed to ENFORCE private contracts, not alter them! Sheesh! If there was fraud or deceit in regards to some of these loans, it needs to be taken up in the court system.

[COAnews]

oh just what we need someone espousing the dogmatic neo-classical religious belief system. I'll pass than you. Government should intervene whenever social justice is curtailed.

[alabasteroldsoul]

Please explain to me how this is an example of social injustice. People bought houses thinking they would continue to appreciate. They didn't. They lost the bet. Does it suck? Yes. Is it a social injustice? No. It's a poor investment decision. Many of them put nothing down anyway. The real losers are their creditors who can't just walk away and go rent someplace down the street.

[alabasteroldsoul]

Also, what about the poor/middle class people who forewent buying a home they couldn't afford with an ARM during the boom, opting to continue saving until the bubble popped? Government interfence only means that home prices will stay artificially inflated and WAY out of the reach of the average American. I saw a sign, "Save the American Dream." Until this bubble is allowed to pop and home prices come back within reach of someone earning a median income, the American Dream is over.

[OscarLimaMike]

It's the usual game of pumping and dumping peoples lives. listen to Leonard Cohen's song. "Everybody Knows." Your society is evil. Don't expect them to give a shit about you and your families...

[rustEshakelford]

If you ever want to own a home in this country, here's what you do; Foreclose on that ridiculously priced mortgage you have today and wait for the market to bottom out to pre 9/11 prices. Your mortgage will be less than half what it is now and no one will hold this foreclosure against you. Trust me!

[theone23ord]

Nothing will be done until

we are all starving (coming sooner than

you think).

By then it will be to late.

[wmbdm]

Isreal get's the most Foreign Aid than any country!!..They ain't starvin.

[alloverthedamnplace]

Good 1 PointOn. Interesting how the usual dipshits are out there blaming everybody else for their problems. Instead of bellyaching on the streets with JJ, get a second f***ing job and suck it up to make the payments. The bank supported you while you made "sub-prime payments," now catch it the F**K up like you AGREED in your contract! THIS IS WHY WE SHOULDN'T BE LENDING TO THESE PEOPLE "IN ORDER TO *MAKE* THEM QUALIFY--THEY HAVE NO SENSE AND LIBERAL POLITICS WILL BANKRUPT THIS ECONOMY.

[midwestcharm]

Jesse needs to endorse Ron Paul.

[KatchooFrancine]

Why? Doesn't Ron Paul believe there should be NO intervention by the government into business? That's my only concern about Ron Paul and other libertarians who think that unregulated capitalism will save us. It won't. Corporations need laws just as individuals need laws. Otherwise, the only motivation for business is GREED, which is the problem.

[pootron]

KatchooFrancine -

Ron Paul is not an anarchist. He believes in the rule of law and a strong legal system. People would be able to sue corporations for torts. Also, this housing disaster happened because the central bank kept interest rates too low. The poor will suffer from the resulting inflation tax on everything else.

[OscarLimaMike]

Anarchist do not believe in the absence of laws or a legal system they merely want authority to have to justify it's actions instead of silently screwing the many for the benefit of the few. What good is the rule of law if the rulers write the laws to benefit themselves with impunity at the expense of the whole population? Especially since the president can apparently do away or ignore any law or constitutional right he pleases? If Ron Paul WAS an Anarchist I WOULD vote for him...

[pootron]

OscarLimaMike -

Your definition of anarchy does not describe what I find in the dictionary. Most people who are not anarchists want authority to justify its actions as well. This is why many RP supporters do not like the central bank. They answer to no one.

[PointOnAndBrash]

This is the result of liberals pushing Wall Street to create conduits for, and lending to, people who have no business being homeowners. Lend to the poor, LEND TO THE POOR, lend to those unworthy and demonstrate that they can't hold a job or balance a home budget... IT'S UNFAIR. What a bunch of CRAP. RE-SELL THESE ASSETS TO THOSE THOSE WHO DESERVE THEM AND WILL ULTIMATELY MAKE THE INVESTMENTS PERFORM and grease this economic wheel. Jesus!

[PointOnAndBrash]

We need to get back to sound economic values and thinking: Save for a down payment. While saving, demostrate your ability to repay. Simple.

[panther9mm]

"We need to get back to sound economic values and thinking: Save for a down payment. While saving, demostrate your ability to repay. Simple."

that could be taken as racism

[machinesbreathe]

What are you talking about? Cul-de-sac-istan is hardly a bastion of liberal policies.

[PointOnAndBrash]

You made my point. These people protesting are NOT a part of culdesacistan! These prostesters do not belong in culdesacistan because they demonstrate irresponsibility and financial mismanagement!! They are the result of poor lending practices forced down the affirmitive action and class warfare throats of ours. Let's give loans to people who DESERVE them -- not just to anybody who can fog a mirror.

[machinesbreathe]

You seem to MISS the point, being that these loans are perpetuated by an amoral few preying on those that would not ordinarily have access to such amenities.

Those that are merely aspiring to realize the same dream as countless others in America.

It is not some liberal agenda as you so errantly purport, but rather driven by an overinflated housing market and fast-talking, con-men steering would be buyers into unnecessary risk.

[PointOnAndBrash]

MISS THE POINT? The liberal experiment is over. The "amoral few" of the largest mortgage company was just taken over by BofA "preying on those" who are usually classified as deadbeats trying to comply with an agenda. The "con-men" steered otherwise nonqualified buyers into something they did NOT deserve in the first place. The investment and banking industry WILL NOT tolerate the liberal agenda of "everybody" trying to buy a home any longer--you must be QUALIFIED and demonstrate RESPONSIBILITY!

[machinesbreathe]

"DID NOT DESERVE"??? In this do you mean the LOAN or HOME OWNERSHIP? Moreover, since when were the deception and chicanery practiced by the loan officers, and surreptiously endorsed by investors, lobbyists and the federal reserve exclusively liberal charachteristics? This self perceived LIBERAL EXPERIMENT of yours is no more than a broad generalization based on spiteful bias alone.

[PointOnAndBrash]

Sorry man. Gotta look at personal responsibility here -- on all sides. The govy's gotta take the hit for socioeconomic tinkering... Wall Street and the brokers are chumping up for participating in unsound lending principles... and the deadbeats gotta take their lumps because they couldn't balance a checkbook. And ALL will now realize nobody should not have signed on the dotted line for the big experiment.

[PointOnAndBrash]

Machinebreath, PointOnAndBrash will now answer Point On and Brashly: 1&2. Yes, they did not, and do not, deserve the loan or home ownership. 3. IF the premise of an entire industry practicing "deception and chicanery" WAS evident (that IS a broad generalization), the answer is, "Yes, the actions were brought about to make a market for "feel good inclusiveness" in home ownership to barely high school educated burger flippers.

[PointOnAndBrash]

This will shake out and normal economic function will return: Renters will be renters... home owners will be home owners... and bankers will return to being more prudent money.

[PointOnAndBrash]

And one last thing: Get out of the street. Yammering with Jesse is not going to save the world. The '60s are over and it makes you all look ridiculous. Pick up a second job if you want to keep your home... better yet... pay your bills, demonstrate your credit worthiness, go back to school, kick the drugs, get a life, exercise...

A sad situation goes a pathetic demonstration goes a laughable commentary go to thanking myself for finishing college and being a productive American. bwahaha

[machinesbreathe]

"BWAHAHA???"

what are you making this post from some secret cave lair? In response NO! I never generalized the loaning industry as a whole to be complicit in unsavory practices. It is you who paint this all as an elaborate liberal experiment. It is you who paint all the qualifiers as uneducated, drug addled burger flippers.

Secondly, Jesse Jackson is hardly a credit to his cause, nor did i ever imply otherwise.

[statelybird3]

Excuse me---if you live in a city where people are getting laid off from their jobs right and left---which is why a lot of people end up losing their homes--hell, I live in Michigan, where even people with a degree are having to leave the state because their are no jobs in their fields. Doing all that is NO guarantee that you won't get laid off or spent the next 6 months pounding the pavement for another job paying far less than your old one. Plus Michigan has the highest unemployment rate now.

[machinesbreathe]

That's right, everyone has their place and how dare they step outside of their bounds. What is this you speak of, the Indian caste system?

[machinesbreathe]

Its growing increasingly more apparent with each exchange, your consistent reliance on buzzwords and such as "feel good inclusiveness" that renders your conclusions suspect and more in tune with the "black helicopter" conspiracy theory set than a comprehensive formula for fiscal responsibility.

[PointOnAndBrash]

My "growing exchange" is simple: The formula for fiscal responibility lies with the free market, capitalism and intelligent thinking --Not HUD and their default programs and taxpayer bailouts, not FHA and their default programs and taxpayer bailouts, not Lyndon Baynes Johnson and his great society. Here's 8 "busswords" for you: PROVE YOUR WORTH FIRST... THEN GET THE LOAN.

[bxblox]

just foreclose and they can rent like the rest of us who cant afford a home yet

[machinesbreathe]

It is unfortunate that all of the exsisting rental properties in the cities are either being leveled to make way for condos or otherwise converted into them.

Those that can't afford are being subtilely

pushed out to into the newly not so desireable suburbs where they'll spend the vast majority of their time mired in gridlock and a sizeable chunk of their pay on gas.

[CivilBrigade]

600 BILLION dollars spent on blowing up and rebuilding a civilization half way around the world. Yet good people here at home, who pay taxes and support the economy by working, are going homeless everyday. 25,000,000+ Americans without access to health care that won't bankrupt them. What the hell? Going into forclosure insures that your credit is destroyed for many many years to come no matter how hard you work. It's a serious problem, people!

[robtran]

(part four)And I'm not exactly Alan Greenspan, you know? How is it that I can live within my means, but these fools who signed up for pie-in-the-sky mortgages are supposed to be bailed out by the government? It's just complete nonsense. They should get some assistance, yes, but not a complete bailout. That would be insane.

[panther9mm]

i don't undastand why you call them fools. they are smarter than you. they are the ones who had the insight to know that the government would step in and save the day. YOU ARE FORCED TO PAY FOR THEM!! AND YOU CALL THEM FOOLS???

[robtran]

(part three)When I charge something on my credit card, I am ALWAYS aware of how much I make each month and how long it will take me to pay off the item. I NEVER max out my cards, and I don't go off and buy a new car just to have one. I hate being in debt; it's like having an albatross around your neck, and God help you if something goes financially wrong in your life.

[robtran]

(part two)But I have to agree with others who have posted here that they feel little or no *sympathy* for those who purchased homes they couldn't afford. If the majority of these people were very young and inexperienced that would be one thing. But entirely too many of them are fully grown adults who should have known better.

[robtran]

(part one)I feel very sad for the people caught in this mess, but I also feel a tincture of schadenfreude. For years I've had to patiently listen to smug colleagues lecture me about how I was "flushing [my] money down the toilet" by renting rather than owning. The hell of it is NONE of those people owned or own ANYTHING. What they have is a piece of paper and 30 years of $2000+ a month or more.

[varange2]

Someone needs to remind these so-called homeowners that they don't own the hovels they live in.

[marcusjansen239369]

it's unfortunate that the underclass and middle class is under attack and does not even know it because they do not have the educational insite to realize it. This is the most sophisticated form of warfare in the 21st century. 911 is nothing compared to what you are seeing all over this country...Shut down the FEEDRAL BANKING SYSTEM that controls all of us.

[stinkypoon]

It's sad, but these people need to stop blaming others for their mistakes. While the blame can be shared by many, it's not the end of the world for these people. The banks take the loss, and they go on to live a happy life without worrying about owing twice on their mortgage than their house is worth. The scam is over, and the sooner the bubble bursts and the prices fully crash, the sooner we can go on with our lives.

[kuwatsinango]

fuck all the wall street pigs,ceo,real estate agent,appraisser and loan officers because of that YSP loan officer care only for there own interest instead they could put or qualify homebuyers or homeowners for prime they put them into toxic ARM loan and to the appraisser to who inflate the home value because of the pressure of the bank or wall street pigs they all in cahoots in this scheme and the federal reserve are sleeping that time due to the lax of lending practice.

[pittmoney1]

What does the YSP have to do with someone deciding to finance a home through an ARM?

[bluemtgfrog]

While bailing out either homeowners or investors may create short term moral hazards, keeping citizens in homes so that they can build equity over time should be the priority of the US Government and the financial institutions, which will want to continue to serve their customers.

People who made wise financial decisions need to see the larger picture of how this wil effect them as their neighbors lose their jobs, houses go into forclosures, properties become boarded up and sold at auction.

[panther9mm]

"keeping citizens in homes so that they can build equity over time"

you aren't supposed to build equity by ammortiztion, equity is made by appreciation

[GaryVolts]

Houses don't increase in value, they produce nothing. They only keep pace with inflation in the long run. Up until this most recent ponzi scheme erruption, you gained equity by paying down the principal.

[panther9mm]

houses do produce something, rental income and tax shelters. i'm not sure they will keep the same pace with inflation. it depends on the basket of goods chosen for your measure of inflation. different geographical locations will have different baskets of measure for inflation

[jortizz]

New York City is one click away from Communism. The bureaucracy in that city is beyond comprehension.

[machinesbreathe]

I'm sorry, but bureaucracies have far more to do with capitalism and nothing w/ communism.

How else would cronyism, greed, and obsfucation be able to thrive so well?

Just look at private insurers, and for profit health providers. What do you think accounts for the lions share of the costs and how much more is paid for services rendered? Bureauacracy!

[sallee5]

Jesse is an opportunist, but that woman that spoke was very good and I agree with her. People that sign up for a mortgage assumes the risk of paying it. I don't have a mortgage, because I was not ready to risk everything. They took a risk so they have to be responsible...

[nickprogresss]

why do we put up with this!!?

[varange2]

End the madness, vote Ron Paul.

[kannon9]

A lot of pple are not given the full truth when taking out mortgages. True the Bush Admin. can waste all this money on this moronic war in Iraq/Afganistan. War is strictly to obatin rights for oil we do not need foreign oil we need to use alternatives and spend the money here at home and help our pple. Charity begins at home not wasting it on a war for oil and besides the whole world is mad at us because of the stupid descisions D.C. is making.

[kuwatsinango]

we need people like you sepak out the truth.

[kannon9]

Thanks because you believe this too I bet. Blessing to you and stand up united against the NAU & NWO and we should be the govt. not a bunch of selfish REpublicans and Democrats. We need to just get everyone to take a stand.

[crazycatfguy]

Anyone remember the Savings and Loan scandals? The gov bailed out with tax dollars the people responsible for it but not the people who lost money. Same crap different day.

[mongobobo]

Yes but this is on a MUCH MUCH MUCH!!!!! bigger scale. There isn't enough money in the world to bailout these investments.

[random63x]

I like Real News, but I have to question their decision to show a rally organized by Jesse Jackson...he's a hack, an anti-semite, and he isn't taken seriously in NYC by anyone except whichever interest group he happens to be speaking for at a particular moment. Also, IMO, people to do not have a right to get bailed out when they can't pay their mortgages.

[Tinfoilhatproduction]

Geez, it's really happening. The revolution has begun. The resistance grows in strength.

[gimpusmons]

Which revolution are you talking about? This is a bunch of people who didn't read the fine print and now want a government handout. The real revolution is about empowering individuals to take responsibility for their own lives. The government won't help you out. It's been taken over by crooked elites.

[Tinfoilhatproduction]

When you offer idiots with no money, a house for the rest of their lives at 2% interest, not one of them is going to read the fine print. I just gave my house back to the bank voluntarily...the revolution has begun. The credit system is finally collapsing.

[varange2]

Sure it's collapsing, but I'm not sure you'll like the result. No more SUV, no more playing world policeman. We shall see what the political consequences will be.

[Tinfoilhatproduction]

Nuclear war I suspect.

[gimpusmons]

If what most anti-Federal Reserve people are saying is true then the credit system collapsing ultimately means our entire monetary system which is propped up by so much credit that it would literally never be paid back, ever. Every last penny would be sucked dry out of our economy and there would still be debt owed to someone. Scary times are ahead unless we change policy and you don't need a tinfoil hat to see it coming.

[LayneRoxxx]

NOW TAKE RESPONSIBILITY FOR YOUR DECISIONS AND ACTIONS!

You should never have taken that loan for that much or that loan with the variable rates! Did you NOT think that they were going to jack the rates up? shiiit!

[LayneRoxxx]

I know the banks are crooked, the government is crooked. I knew that back then. You got to be smart and look out for yourself. I just switched alot of my funds over to international stocks so don't be bitching and complaining when you lose money in domestic investments. Stay ahead of the game. Know the game and play it.

[COAnews]

so sad

[happyprometheus]

The ideology of greed ruins people's lives and destroys the eco-system. It is as simple as 1+1=2

[kevgrim]

Where are the Bankers putting their soon to be worthless dollars? = into foreclosers that will still have value when the dollar does hit 0!

[mystykit]

In Euros. Just like Cheney did. Where all the smart money went.

[YadaYadaguy]

not smart money ..the traitor dollar. these silent traders that say no there is no Hostile take over of Countrys going on.Control the workers,trade and you will get control of the military and politics .thus they started at the bottum buying up newspapers,security firms,law firms,unions.ect.

[Braves300]

i read about that

[cityview1989]

Their fools.

[cityview1989]

"Commerce with ALL nations, alliance with none, should be our motto."Jefferson

"Guard against the impostures of pretended patriotism."Washington

"The executive has no right, in any case, to decide the question, whether there is

or is not cause for declaring war."Madison

When the dollar collapses, dont forget to blame the warmongers for their deficit

spending.

[scumbauggio]

"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed."

- Abraham Lincoln

[dominican1000]

oh my.. this is really true! idiot! president stop spending on the fuking war!!! and do soemthing for you decliming country! :0

[YadaYadaguy]

nah CFR is the educational part of a larger problem..the money men make plans then hold lectures at the CFR that help swing thought patterns to think its a good idea ...beleive it or not many years ago people didn't think slavery was a good idea..you cant treat people that way many people..said but through lecturs on how indians where savages and the black man was this and the germaitic people where this..slavery rained on this planet for some 5000years..and still goes on quietly

[roastbeef240]

The fault is on the people who borrow money they can't afford to pay back. They aren't losing "their" homes. They are losing their mortgage.

[inertia186]

I agree with you, but the people who offered loans to sub-prime qualifiers are also to blame. They took risks and offered loans to ignorant people who didn't qualify.

Now those ignorant people think they were tricked into the loans and will demand the government step in. And of course, the government will be all too happy to do so.

[panther9mm]

i thought wall street is to blame, not the mortgage lenders or the borrowers

[inertia186]

The lenders have a responsibility to do business in an ethical manner. The blame is evenly spread between qualifiers, lenders, investors, our government officials, and the Board of Governors of the Federal Reserve.

[panther9mm]

what about the greedy sellers? they took all the money and ran

yes, investors are to blame because they are greedy too

the buyers can't be blamed at all

[redheadfo847]

It's all the CFR's fault!!