The Federal Reserve is a foreign owned private corporation and needs to be thrown out of the USA along with NATO, the UN, the Bilderbergs, the foreign owned Trilateral Commission, the foreign owned Council on Foreign Relations, the foreign spy agency called the Israeli Embassy, along with the foreign president....Obama.
Saw this video in an Economics class in 2008. I never knew what the video was called and I wanted to find it again but couldn't. Searched "markets" today and found it by accident.
If I loan someone $20, I have a right to payment of $20 in the future. If I need money now, and not later, I might sell that debt to someone at a discount, say, for $15. That person is then entitled to the $20 later, and gets a $5 profit IF the debt is paid. This is what buying debt is about, and why the buyer of debt gets screwed over if the underlying debtor can't pay his debts.
Oh my God! How can people really believe that this is for real. Hello! this is satire and Bird and Fortune are actors and they are taking the piss out of the system. The clue is with the audience.............................they are laughing. OK.
bad policies the gov said to banks hey you want to build a bank in this neighborhood? you have to lend money to a certain % of people in this area (Low income) the banks: these people don't quilfiy gov: well you cant build it banks can you insure us? Gov Sure! banks: no money down your job is your credit bad idea
@MrBigEnchilada Uh no, democrats wanted availability of sub prime loans, not to gradually replace fixed rates with them. There are people who have subprime loans who are still in their homes, and there is no reason a subprime had to have balloon interest provisions hidden in them, or why they should have been given to people who qualified for better loans without telling them they did. How is a bailout a cover up? It was the most publically visible thing for years.
@LambChowder1 At first mortgage institutions made the stated income, verified assets (SIVA) loan policy. The big institutions started buying these loans and it became a quick buy (give out the loan) quick sell (sell the loan contract to banks) business so the risk was passed on. Thus out came the no income, verified assets (NIVA) loans. And at the peak of the loan sign No Income No Assets (NINA) came out.
@LambChowder1 However, many rich people also lost out on these, they bought huge, brand-new multimillion dollar homes to live, others bought multiple homes for investment thinking they can just sell it later. Some of these rich people killed themselves because they lost too much money from falling home prices, I know someone who lived in such a neighborhood.
The dems and some repubs had to covered up their mistakes by bailing out the banks, they couldnt let banks fail due to their policies.
@LambChowder1 what dems and repubs fail to realize is that both regulation and de-regulation distort the market in some way, and usually these policies are proposed by corporations trying to appear to be concerned about something but actually trying to take up market share. It is very apparent that everyday people could care less about what sector to regulate or deregulate, the million dollar deals are made by big companies.
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I hope those in the markets die of an incurable disease for what they've done too us. There Capitalist pigs the whole lot of them are. Swine have better morals than these greedy bastards have. By the way this was briliant stuff from the Bird and Fortune a classic skitch from them. I wish they were on Channel 4 now with Rory.
@zoot3zz You ignorant fuck. The English language in Britain is so diverse, not ALL of us speak like this. The way these two guys are speaking is considered posh or upper-class. So no, not all Brits speak like this.
@MastarKilla: I must apologise. The rethoric structure used in my previous comment might be known amongst you whites as "ironic metaphor". I t is a very primitive way of transporting information I learned at my zionist mosque in central africa. It is nearly as popular there as burning american f(l)ags.
Please don´t hesitate to ask if I can enlighten you further.
@MastarKilla: You might want to shop for a high grade enhanced structured thought. I hear the are the prices are at an all time low. Will just cost you a moment of using your brain. On the other hand this is indeed the comment section on youtube, so please excuse me bothering you.
@demammoet - so what? these investment bankers, instead of getting 8-figure bonuses, would be bankrupt. if people lost their pensions, at least there would be enough unrest to start putting the right people in prison. instead, we bailed them out, and now theyre look for the next big bubble to plunder. i heard the cap and trade program sounds like a great investment opportunity...
@demammoet Africans breed so much because they dont have machines so they need their kids to work in the fields (manual labor) so they can get enough to feed themselves and maybe sell a little. The problem is that if the land have a famine or no rain then they cant grow anything and more people starve. This trade off between less people or more people has been the history of many animals, and people.
I dont think that is the only factor in the equation though.
Think about Europe, we had one figure in Holland Malthus who really advocated birth control and education to lessen the suffering of families popping kids like its competitive sports.
He really made a difference. I believe that superstitions and emerging christianity are taking on very negative forms because people there do not know yet how to organize and be scientific.
The black unemployed guy is guilty for taking out a loan that he clearly cannot afford, and the mortgage salesmen and investment bankers (assuming they are all white as that is the stereotype) are guilty of getting people to take them out. People of all races are guilty of greed
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The funny thing here is while the people are laughing at what that guy says, he's laughing harder at them knowing they're also the kind of people that buy into their schemes. Totally understandable.
Black people borrrowing didnt create this problem. Its the owners of the big banks and mortgage companies, greedy for profit.
A large part too is in the appraising system. As an appriasal, I can put a wrong value on a house. If that house is purchased, it use as a comp and other homes in that area are elevated based on that wrong value. And it goes On and On, and out of control.
@alz123alz and those greedy bankers took out insurance policies (derivatives) to ensure they get a return when those loans don't get paid back. It was all fixed to get wall street a Big Financial Boner, You are correct greed made this problem.
i thank God i saw this crap coming they tried to force an 1800.00 mrtg on me an that was with out the interest dam near had my wife trying to argue w/ me i told that scum bag to go blow pole by next week i was looking like a genuis when this crap started.lol
The economy we imagine exists is an extraordinary construct.
"The names they think of are very good...It sounds very trustworthy. It's got good words in it..."
"...What is stupid is at some point somebody asked 'How much money these houses actually worth? I mean, if they hadn't bothered to ask that question then everything would've gone on as perfectly normal..."
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 the crunch, and the bailout lotteries to help rich friends.
Targeting of elderly black females by predatory lending institutions is well documented. The hope, because this is how this demographic is viewed by the elite, was that you had the best chance of selling a harmful debt to a, hopefully, confused, hopefully illiterate, hopefully poor human being. One segment in the movie Maxed Out showed one such victim, an elderly black lady and her mentally challenged son. He had to be showed how to write his own name. These were loans in the $25-50,000 range.
this is an edited video. in the original one, i think, there were adds, so the editor has not been able to delete the whole break. The guy in the computer is actually one of the comedians
You really need to do some research and find out the average value of homes sold to blacks and hispanics in USA. You wouldn't be talking about $1.5million dollar homes and blacks in the same sentence if you had done any research. This cannot be accurately painted as a black problem.
Blacks sitting on porches in Alabama did not cause the global credit crisis and it is very irresponsible of these 2 so-called comedians to float that lie as if it were credible. It was wallstreet bundling toxic mortgages, bankers, appraisers, and lending corporations giving middle class whites $300K loans on homes worth $150K, no doc scams, refinancing schemes and adjustable rate mortgages. Millions of whites were victims of this and lost their jobs on top of it. thats the reality.
You are right but as well as all the mortgages taken out by people with insufficient income is the fact that the Greedy Globalization agenda has been pushed on us by multinational companies;I.E ,that companies have outsourced jobs to China (mostly) to get their products made cheaper and then they ship their products back to America .They want Americans to buy their products but they dont want to employ Americans to manufacture their products!
They are not saying that black people caused the crisis. What they are saying is that companies taking advantage of poor people caused the crisis. The example is just used for its highly ironic and humorous effect. The point of the whole sketch is that the market is disorganized and arbitrary and led by greedy, irresponsible assholes who care about nothing but themselves.
@gringochucha indeed, crushing the lower classes further into the ground is big business, there are now places in the UK that compare to 3rd world areas & thats a business as well.
disorganized, arbitrary,greedy, irresponsible assholes, all true, don't forget boy lover child molesting genocidal psychopaths
@gringochucha It's been a year since you made the comment, but I can't resist.
You say the companies took advantage of poor people, yet you ignore that the government under Bill Clinton passed a law that REQUIRES those mortgage lenders to give loans/mortgages to people who couldn't afford them, for the very purpose of getting poor minorities into houses, by turning those houses into easy sources of leverage.
The crisis is 2 parts government incompetence and 1 part corporate greed.
@MercenarySlick There are sketches they did about all this back in 1996... They showed them in the UK least year, they were bang on...Bremner, Bird and Fortune the best satirical comedy in the world.
@gringochucha Yeah right they being racist about blacks when the bankers gave mortgages to them. It was criticizing the bankers for the utter incompetance and the lack of foresight of the great risks in doing that.
@gringochucha The Zeitgeist movement is the transcending of historically outdated obsolete,destructive,dehumanising political economy of PROFIT OF A FEW CRIMINAL RULING CLASS versus SANCTITY and HARMONY OF LIFE .The market system of artificial scarcity is the perpetuation of the servitude and the wage slavery of immrense humanity in a useless ,devaluing employment system. A democratic majority for a moneyless ,classless,statless communities of humnaity in cooperation,harmony and wisdo
Everyone finds it funny, educational, depressing, light relief or a combination of different things.
To my way of thinking, taking a few deep breaths every so often, connecting my senses to nature which sustains us all and dancing, socialising, enjoying healthy food etc. might not change the world but my life is better because of it and I dare say, so is the life of people around me.
I get the feeling that I've learned significantly more about the situation from this nine minute clip than looking at the news for the past few months.
hahaha, you have no idea man, the reasons why subprime mortgages were being given to such people are 2: first, cos seeing that interest rates were low and banks didn't do any business, they wanted to make business by giving high risk mortgages (hence "subprime") with high interest rates; ans second, cos the people who were giving out this mortgages were mortgages sellers and their salary depended entirely on the number of mortgages they did.
Blacks couldnt possibly have caused the crisis. Theyre only 12% of USA population & a majority of them are renters, not homeowners. The media lpromoted this idea b/c there was no clear explanation for the financial crisis. The fact is millions of whites were given loans they couldn't afford, refinanced their existing homes, or tried to make money by "flipping" homes. Then, widespread job loss wiped out their ability to pay. Blacks weren't getting approved for $300K loans. Whites were.
How do you feel when you're laid off by your company which has nothing to do with the foreclosure regime? Credit crunch is like choking your wind-pie intake for living. Current situation is actually again some people pull the plug so you have to consent that bubble is their monopoly and Federal Reserve cannot be called a ponzi.
THE POINT IS: red baiting the black guy in Alabama,,,,the schemers were the wall street bankster/gangsters and their ponzi schemes. Why are we bailing out bear sterns, aig, lehman...they should all be in jail....no under the jail. they caused this worlwide depression, not the black man sitting on his broken down porch.
I think you missed the point *lti12*. It's not the fault of the "Black man in the string vest" (as they put it) It's the greedy and irrisponsible bankers who were not only willing to lend him the money, but encouraged it! That's what got us into this mess!
We may be seeing the effects of a lot of things. Banks basically create money out of thin air. Most are only required to have a small percentage (in cash reserves) of the money they loan. The banks who own mortgages based their spending (loans, whatever) on what was on their balance sheets, not on their reserves. Then the loans default. The banks get the bailout money, and they immediately want to 'cover their losses', so they keep it instead of loaning it out. Not a good idea.
European, Asian are scare of investment or open any new business because of their privacy and business policy will be violated and known by Govt personnel(phone,email,personal message are tapped) Wake up American who is very easy to fool by the Govt. That why new job, new business, new investment, moreover financial crisis is happening in US. Make some video on it.Bias media like Fox News, CBS, CNN give wrong information about Gaza Genocide, Iraq that was created by USA by the order of Israel.
Nothing better that self derision and sarcasm to bring down the ego of those big serious guys in black suits and ties..
"...the price is too high for that kind of mature wisdom ;O)..."
I am actually myslef being called every single day by a few of those advising me to "consolidate" my debts for my best interests...since this doomed "armageddon" financial crisis started..
Wow, I thought this was brilliant when I first saw it six months ago but now that all of which they'd spoken has actually come to pass I'm wondering why (if we know precisely who's done what and how) we don't simply hang the perpetrators and get on with it.
excellent but in fact, the subprime problem was just one of the boneheaded moves that got us into this mess. there is much more left that remains to be laughed at.
When you think that this was recorded in 2007 !!!!! When you think that these two - gifted - comedians can debunk situations that the "specialised" press and politicians appear unable to understand !!!! If these two run for office one day, I will indeed vote for them !
I have been grappling to understand the present financial meltdown. It was always obvious to me that Bush was involved somewhere along the line, he had to be knowing the idiot that he is. However, these fellows make it all as clear as crystal in 8 minutes. No regulation.
In the movie Wall Street, Michael Douglas states, "Greed is good." The wealthy believe this. Greed & corruption are two sides of the same coin. Greed turns the wealthy into crooks & thugs that proliferate like fleas on dogs. The greedy's sole purpose is to acquire more wealth. Governments, through taxation, practice this as well. Business & politics go hand-in-hand. But they make strange bedfellows. Sleep with the corrupt & you'll wake up with greedy, insatiable fleas that'll feast on us all.
V. Putin was "time Magzine's' 'person of the year'. his approach to bring russia ot of economic misery is pretty much the same as a. hitler's was. we need to do it hereis all. 1st thing, dissolve the 'fed'. r. paul has a bill in congress right now to do just that. it won't go anywhere, but remember he was the 1st to indroduce it.
"your pension fund" will suffer 'bail out' or no 'bail out'. if one reads how a. hitler brought germany out of the ecconomic morass the bankers put germany into, the answer to the problem becomes very clear.
Germany had already started to come out of the recession before the nazis came to power. Secondly, Hitler also carried out a massive rearmament programme - this programme was already under way in the US (record levels of military spending) and it has got US government debt up to unbelievable levels. If you are proposing a fascist dictatorship then that might "solve" the political troubles, but it won't solve the economic problems.
If what I learned is correct, the Nazi / Hitler financing went like this:
The Metallurgical Research Company "Mefo" made exchange checks which were accepted by the German banks, even though they were not covered by actual money: so with the re-armament there came to be a HUGE debt if anyone actually would have had to pay this for true.
>> Money is a system of agreements for energy-collaboration nothing less or more. It is a mind-made system, a change of mind changes your money...
Former fed chairman Alan Greenspan has been a defender of derivatives since 1999 or before . Did you know that the same guy pushed subprime loans has also pushed derivatives
other regulatory agencies and Congress have taken a totally hands-off approach towards derivatives.
How Big a Problem?
How big is the derivatives market? Worldwide, it is $596 TRILLION dollars *. The derivatives market dwarfs the real market for goods and services, and acts likes an unregulated black market.
Ooops! I forgot another major recipient of Investment bank payola: Senator Christopher Dodd of Connecticut. And there were those out there hoping he would be our watch dog! Hah!
Love British humor. Well done, gentlemen.
aerofart 2 weeks ago
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The Federal Reserve is a foreign owned private corporation and needs to be thrown out of the USA along with NATO, the UN, the Bilderbergs, the foreign owned Trilateral Commission, the foreign owned Council on Foreign Relations, the foreign spy agency called the Israeli Embassy, along with the foreign president....Obama.
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FreeSTOCKnolossROBOT 3 weeks ago
3:20 why does it have to be an unemployed BLACK man.....? Sublte.... Ignorant....
Imasmashbro2 1 month ago
@Imasmashbro2 It's called satire my friend
ningram004 1 month ago
Saw this video in an Economics class in 2008. I never knew what the video was called and I wanted to find it again but couldn't. Searched "markets" today and found it by accident.
Cool.
crazydudetz 1 month ago
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If I loan someone $20, I have a right to payment of $20 in the future. If I need money now, and not later, I might sell that debt to someone at a discount, say, for $15. That person is then entitled to the $20 later, and gets a $5 profit IF the debt is paid. This is what buying debt is about, and why the buyer of debt gets screwed over if the underlying debtor can't pay his debts.
GreatMcWhites 2 months ago
This video was not good because they did not go into details about the true nature of fundamentals and sentiments.
Fernando74959 2 months ago
@Fernando74959 What about it?
SubzeroedMind 2 months ago
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Sirenhound 2 months ago
Oh my God! How can people really believe that this is for real. Hello! this is satire and Bird and Fortune are actors and they are taking the piss out of the system. The clue is with the audience.............................they are laughing. OK.
12borekent 2 months ago
bad policies the gov said to banks hey you want to build a bank in this neighborhood? you have to lend money to a certain % of people in this area (Low income) the banks: these people don't quilfiy gov: well you cant build it banks can you insure us? Gov Sure! banks: no money down your job is your credit bad idea
MzSexyThang86 2 months ago
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sergiu9110 3 months ago
who thought it was smart to deregulate financial instruments? republicans
who thought it was smart to encourage banks to loan to those who couldnt
possibly pay ARM or mess with things like home equity loans? democrats
who thought it was smart to let fannie mac freddie mae to do whateverrr democrats
who had to cover up their dumb policies by quickly bailing out the banks? democrats
who went into government to make everything happen this way?
goldman sachs
MrBigEnchilada 3 months ago
@MrBigEnchilada Uh no, democrats wanted availability of sub prime loans, not to gradually replace fixed rates with them. There are people who have subprime loans who are still in their homes, and there is no reason a subprime had to have balloon interest provisions hidden in them, or why they should have been given to people who qualified for better loans without telling them they did. How is a bailout a cover up? It was the most publically visible thing for years.
LambChowder1 2 months ago
@LambChowder1 At first mortgage institutions made the stated income, verified assets (SIVA) loan policy. The big institutions started buying these loans and it became a quick buy (give out the loan) quick sell (sell the loan contract to banks) business so the risk was passed on. Thus out came the no income, verified assets (NIVA) loans. And at the peak of the loan sign No Income No Assets (NINA) came out.
MrBigEnchilada 2 months ago
@LambChowder1 However, many rich people also lost out on these, they bought huge, brand-new multimillion dollar homes to live, others bought multiple homes for investment thinking they can just sell it later. Some of these rich people killed themselves because they lost too much money from falling home prices, I know someone who lived in such a neighborhood.
The dems and some repubs had to covered up their mistakes by bailing out the banks, they couldnt let banks fail due to their policies.
MrBigEnchilada 2 months ago
@LambChowder1 what dems and repubs fail to realize is that both regulation and de-regulation distort the market in some way, and usually these policies are proposed by corporations trying to appear to be concerned about something but actually trying to take up market share. It is very apparent that everyday people could care less about what sector to regulate or deregulate, the million dollar deals are made by big companies.
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rishoban 5 months ago
This skitch should of won some sort of comedy award.
Professor6871 5 months ago 2
check the subliminal picture at 7:19
Downsideupside 6 months ago
@Downsideupside its a guy lookin at a laptop, i pauzed it at the right second. WTF does that mean huh?
0altaer0 5 months ago
I love this, lol.
allchangesintime 7 months ago 2
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I hope those in the markets die of an incurable disease for what they've done too us. There Capitalist pigs the whole lot of them are. Swine have better morals than these greedy bastards have. By the way this was briliant stuff from the Bird and Fortune a classic skitch from them. I wish they were on Channel 4 now with Rory.
Professor6871 8 months ago
@Professor6871 I know lets send them some of those dogy cumbers from Spain that have made some people ill recently.
Professor6871 8 months ago
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Professor6871 8 months ago
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pmasteria 8 months ago
Stooooooopid !
Can't they take the marbles out their mouths or is this just the way all Brits speak?
zoot3zz 10 months ago
@zoot3zz You ignorant fuck. The English language in Britain is so diverse, not ALL of us speak like this. The way these two guys are speaking is considered posh or upper-class. So no, not all Brits speak like this.
AdamRyanKirkwood 9 months ago
@zoot3zz That's how some Brits speak so get used to it.
Professor6871 8 months ago
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VigenToT 10 months ago
Private companies trade their shares on the market to raise the money for their needs, This can be very easily manipulated.
aviomaster 10 months ago
is it just me or do they look exactly the same?
AndreLeCoz 10 months ago
Is the stock market a modern weapon of genocide?
Is it possible?
Serrokot 11 months ago
Comment removed
Professor6871 8 months ago
@Serrokot Yes!
Professor6871 8 months ago
/watch?v=y0b6pkGNeI0
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JDSPECTRA531 1 year ago
@MastarKilla to make this easy for you to understand: no. you are wrong.
wrong in infact everything you wrote.
(even my skin colour)
please consult google / wikipedia / a shrink (these are NOT alternatives)
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annakelsuaq 1 year ago
Really interesting... i understand know a little more this business
seotons 1 year ago 2
@seotons I agree yet am still a little bamboozalled by the financial market and how it works
Shaun17170 11 months ago
i don't know if you guys realize this.... but they're both comedians.....
paperboy438 1 year ago 2
@MastarKilla - how'd you get to be so angry and hateful?
tdwilliams1000 1 year ago
Comment removed
WizardKing78 1 year ago
@WizardKing78 errr this was on The South Bank Show... which was on ITV ;-)
duxk 1 year ago
@duxk DOH!
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MakaylaQhyj 1 year ago
@MastarKilla: I must apologise. The rethoric structure used in my previous comment might be known amongst you whites as "ironic metaphor". I t is a very primitive way of transporting information I learned at my zionist mosque in central africa. It is nearly as popular there as burning american f(l)ags.
Please don´t hesitate to ask if I can enlighten you further.
Shalomaleikum comrade!
viennois0123 1 year ago
@MastarKilla: You might want to shop for a high grade enhanced structured thought. I hear the are the prices are at an all time low. Will just cost you a moment of using your brain. On the other hand this is indeed the comment section on youtube, so please excuse me bothering you.
viennois0123 1 year ago
Pension fund is putting it lightly.
More like famine and war.
demammoet 1 year ago
@demammoet - so what? these investment bankers, instead of getting 8-figure bonuses, would be bankrupt. if people lost their pensions, at least there would be enough unrest to start putting the right people in prison. instead, we bailed them out, and now theyre look for the next big bubble to plunder. i heard the cap and trade program sounds like a great investment opportunity...
Slayer8957 1 year ago
@demammoet More like poor relief now.
Professor6871 5 months ago
@Professor6871 Well that is if we consider the Western hemisphere to be the whole world.
Africa and all poor nations went from poor to hungry, from hungry to starving.
And we are far from out of this mess.
demammoet 5 months ago
Comment removed
Professor6871 5 months ago
@Professor6871 Yeh Africans do breed too much.
Its hard to understand one can pop 6 kids with barely enough to eat but thing is...
When times are tough people start popping kids, it must be some kinda unfamiliar instinctual response.
Just look at the great depression in the States and post war Europe Im sure you are familiar with the term "baby boomers".
I personally believe it happens when people aren't educated, and though Africans are a different story education is showing results in India.
demammoet 5 months ago
And YOU'RE educated?!
ComedySceenwriter 4 months ago
@demammoet Africans breed so much because they dont have machines so they need their kids to work in the fields (manual labor) so they can get enough to feed themselves and maybe sell a little. The problem is that if the land have a famine or no rain then they cant grow anything and more people starve. This trade off between less people or more people has been the history of many animals, and people.
MrBigEnchilada 3 months ago
@MrBigEnchilada Ha yeh that makes good sence.
I dont think that is the only factor in the equation though.
Think about Europe, we had one figure in Holland Malthus who really advocated birth control and education to lessen the suffering of families popping kids like its competitive sports.
He really made a difference. I believe that superstitions and emerging christianity are taking on very negative forms because people there do not know yet how to organize and be scientific.
demammoet 3 months ago
yeee ya yes.. see meech
MrCircle360 1 year ago
I think it's a bit of both.
The black unemployed guy is guilty for taking out a loan that he clearly cannot afford, and the mortgage salesmen and investment bankers (assuming they are all white as that is the stereotype) are guilty of getting people to take them out. People of all races are guilty of greed
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VakningIS 1 year ago
you fools, this is going exactly as planned...more to come in the next 36months.
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OilTradingAcademy 1 year ago
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Nimbo1979 2 years ago
The funny thing here is while the people are laughing at what that guy says, he's laughing harder at them knowing they're also the kind of people that buy into their schemes. Totally understandable.
Inszz 2 years ago 2
Black people borrrowing didnt create this problem. Its the owners of the big banks and mortgage companies, greedy for profit.
A large part too is in the appraising system. As an appriasal, I can put a wrong value on a house. If that house is purchased, it use as a comp and other homes in that area are elevated based on that wrong value. And it goes On and On, and out of control.
alz123alz 2 years ago 8
@alz123alz and those greedy bankers took out insurance policies (derivatives) to ensure they get a return when those loans don't get paid back. It was all fixed to get wall street a Big Financial Boner, You are correct greed made this problem.
JoeTube27 1 year ago 3
@alz123alz They are not saying that !
ironjohnlad 1 year ago
i thank God i saw this crap coming they tried to force an 1800.00 mrtg on me an that was with out the interest dam near had my wife trying to argue w/ me i told that scum bag to go blow pole by next week i was looking like a genuis when this crap started.lol
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The economy we imagine exists is an extraordinary construct.
"The names they think of are very good...It sounds very trustworthy. It's got good words in it..."
"...What is stupid is at some point somebody asked 'How much money these houses actually worth? I mean, if they hadn't bothered to ask that question then everything would've gone on as perfectly normal..."
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johnerrjz 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 the crunch, and the bailout lotteries to help rich friends.
fixyaexperts 2 years ago 9
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dfibcababide 2 years ago 5
This is horrifyingly prescient.
anbocp 2 years ago 3
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dunefall 2 years ago
great stuff
NoticeOfDefault 2 years ago
Targeting of elderly black females by predatory lending institutions is well documented. The hope, because this is how this demographic is viewed by the elite, was that you had the best chance of selling a harmful debt to a, hopefully, confused, hopefully illiterate, hopefully poor human being. One segment in the movie Maxed Out showed one such victim, an elderly black lady and her mentally challenged son. He had to be showed how to write his own name. These were loans in the $25-50,000 range.
NYCNECH 2 years ago 3
7:19 whats with the flash of the dude at the comp
blackmagemoneybot88 2 years ago
this is an edited video. in the original one, i think, there were adds, so the editor has not been able to delete the whole break. The guy in the computer is actually one of the comedians
tatchenko 2 years ago
You really need to do some research and find out the average value of homes sold to blacks and hispanics in USA. You wouldn't be talking about $1.5million dollar homes and blacks in the same sentence if you had done any research. This cannot be accurately painted as a black problem.
bbvivertube 2 years ago 4
Blacks sitting on porches in Alabama did not cause the global credit crisis and it is very irresponsible of these 2 so-called comedians to float that lie as if it were credible. It was wallstreet bundling toxic mortgages, bankers, appraisers, and lending corporations giving middle class whites $300K loans on homes worth $150K, no doc scams, refinancing schemes and adjustable rate mortgages. Millions of whites were victims of this and lost their jobs on top of it. thats the reality.
bbvivertube 2 years ago
You are right but as well as all the mortgages taken out by people with insufficient income is the fact that the Greedy Globalization agenda has been pushed on us by multinational companies;I.E ,that companies have outsourced jobs to China (mostly) to get their products made cheaper and then they ship their products back to America .They want Americans to buy their products but they dont want to employ Americans to manufacture their products!
joeycusack80 2 years ago
They are not saying that black people caused the crisis. What they are saying is that companies taking advantage of poor people caused the crisis. The example is just used for its highly ironic and humorous effect. The point of the whole sketch is that the market is disorganized and arbitrary and led by greedy, irresponsible assholes who care about nothing but themselves.
gringochucha 2 years ago 59
@gringochucha indeed, crushing the lower classes further into the ground is big business, there are now places in the UK that compare to 3rd world areas & thats a business as well.
disorganized, arbitrary,greedy, irresponsible assholes, all true, don't forget boy lover child molesting genocidal psychopaths
djnero78 1 year ago
@gringochucha It's been a year since you made the comment, but I can't resist.
You say the companies took advantage of poor people, yet you ignore that the government under Bill Clinton passed a law that REQUIRES those mortgage lenders to give loans/mortgages to people who couldn't afford them, for the very purpose of getting poor minorities into houses, by turning those houses into easy sources of leverage.
The crisis is 2 parts government incompetence and 1 part corporate greed.
MercenarySlick 1 year ago
@MercenarySlick I don't know if incompetence is the right word. I would imagine that everyone got their cut.
gringochucha 1 year ago
@MercenarySlick There are sketches they did about all this back in 1996... They showed them in the UK least year, they were bang on...Bremner, Bird and Fortune the best satirical comedy in the world.
emmyjo720 1 year ago
@MercenarySlick but then again who lobbies your government?
Darusdei 1 year ago
@gringochucha Yeah right they being racist about blacks when the bankers gave mortgages to them. It was criticizing the bankers for the utter incompetance and the lack of foresight of the great risks in doing that.
Professor6871 8 months ago
@Professor6871 I don't understand what you are trying to say. Are you being sarcastic? Please explain your comment so communication can take place.
Regards.
gringochucha 8 months ago
@gringochucha
Companies are taking advantage of people's lack of responsibility and ignorance.
I can be poor and at the same time refuse to borrow money I know I probably wont be able to pay back.
Poor people are usually greedy, irresponsible assholes who care about nothing but themselves too.
Szadol 7 months ago
@gringochucha ... I'm black and I understood it - For goodness sake there is nothing to be offended about ...
mrwhispers 4 months ago
@gringochucha The Zeitgeist movement is the transcending of historically outdated obsolete,destructive,dehumanising political economy of PROFIT OF A FEW CRIMINAL RULING CLASS versus SANCTITY and HARMONY OF LIFE .The market system of artificial scarcity is the perpetuation of the servitude and the wage slavery of immrense humanity in a useless ,devaluing employment system. A democratic majority for a moneyless ,classless,statless communities of humnaity in cooperation,harmony and wisdo
arzoyan 3 months ago
financial news
testsax 2 years ago
Everyone finds it funny, educational, depressing, light relief or a combination of different things.
To my way of thinking, taking a few deep breaths every so often, connecting my senses to nature which sustains us all and dancing, socialising, enjoying healthy food etc. might not change the world but my life is better because of it and I dare say, so is the life of people around me.
All the best to everyone. Responses are welcome.
Tom.
LogicHead 2 years ago
I can't help but think an accurate analogy for the markets is a vast poker hall
tellyisrubbish 2 years ago
So political correctness has caused the Credit Crunch and the recession that were now in.
turner60 2 years ago
I get the feeling that I've learned significantly more about the situation from this nine minute clip than looking at the news for the past few months.
Shynaku 2 years ago 2
Your wife, kids and yourself will suck cock for the rent money...This is the will of the fraudulent, phony and rigged free market---Milton Friedman
You are free to compete with slave labor who work for a bowl of rice a day living in an open cess pit.
finefilth 2 years ago
Very poetic that.
turner60 2 years ago
Thank you! I laughed like hell when i typed it..
finefilth 2 years ago
hahaha, you have no idea man, the reasons why subprime mortgages were being given to such people are 2: first, cos seeing that interest rates were low and banks didn't do any business, they wanted to make business by giving high risk mortgages (hence "subprime") with high interest rates; ans second, cos the people who were giving out this mortgages were mortgages sellers and their salary depended entirely on the number of mortgages they did.
Your out of control market is killing the world.
fuckoffs84 2 years ago
Blacks couldnt possibly have caused the crisis. Theyre only 12% of USA population & a majority of them are renters, not homeowners. The media lpromoted this idea b/c there was no clear explanation for the financial crisis. The fact is millions of whites were given loans they couldn't afford, refinanced their existing homes, or tried to make money by "flipping" homes. Then, widespread job loss wiped out their ability to pay. Blacks weren't getting approved for $300K loans. Whites were.
bbvivertube 2 years ago 5
How do you feel when you're laid off by your company which has nothing to do with the foreclosure regime? Credit crunch is like choking your wind-pie intake for living. Current situation is actually again some people pull the plug so you have to consent that bubble is their monopoly and Federal Reserve cannot be called a ponzi.
beancube2008 2 years ago
THE POINT IS: red baiting the black guy in Alabama,,,,the schemers were the wall street bankster/gangsters and their ponzi schemes. Why are we bailing out bear sterns, aig, lehman...they should all be in jail....no under the jail. they caused this worlwide depression, not the black man sitting on his broken down porch.
elzbthalln 3 years ago 22
funny but SO true, Stupid people buying houses they cant afford and then screwing us the responsible people
lti12 3 years ago
I think you missed the point *lti12*. It's not the fault of the "Black man in the string vest" (as they put it) It's the greedy and irrisponsible bankers who were not only willing to lend him the money, but encouraged it! That's what got us into this mess!
alsum501 3 years ago 4
We may be seeing the effects of a lot of things. Banks basically create money out of thin air. Most are only required to have a small percentage (in cash reserves) of the money they loan. The banks who own mortgages based their spending (loans, whatever) on what was on their balance sheets, not on their reserves. Then the loans default. The banks get the bailout money, and they immediately want to 'cover their losses', so they keep it instead of loaning it out. Not a good idea.
MelodiusThud 2 years ago
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European, Asian are scare of investment or open any new business because of their privacy and business policy will be violated and known by Govt personnel(phone,email,personal message are tapped) Wake up American who is very easy to fool by the Govt. That why new job, new business, new investment, moreover financial crisis is happening in US. Make some video on it.Bias media like Fox News, CBS, CNN give wrong information about Gaza Genocide, Iraq that was created by USA by the order of Israel.
MonsterIsrael 3 years ago
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Wow. They are blaming the Black man in England too!?
Amerikkkasuks 3 years ago
Wow, what a moron.
rcroton 3 years ago 6
You've completely missed what they're saying. That's not what they're getting at at all.
bobdole020 3 years ago 6
Hey Krazy, did you get your GED this year??
ahahahh you fucking loser.
KosherHoarse1 2 years ago
Yup. This is the intellect of the guys who were entrusted with my retirement funds. I could use help to find a
W ild
W onderful
W ay to achieve
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COM plete and paying me to save money on my fixed expenses!
Laughter is the best medicine...
winearch 3 years ago
haha....nice....
mathewjohn5174 3 years ago
deregulation=disaster
leftylion 3 years ago 2
Now, I can understand why Richard Fuld took Lehman Brothers to Bankruptcy... LOL?
MpLMx 3 years ago 2
about 7:24 there is a subliminal message and i have no damn idea what it is
chanmang 3 years ago
it says "stop drinking"
DavidCJensen 3 years ago 2
ROFL!
sthrnynk 3 years ago
at 7:19 there is a frame in there of an older guy looking at a computer screen
rollerbenz 3 years ago
wow.."USA mortgages" all true o.o, interesting.
philip101681 3 years ago 2
PERFECT! This crisis comes from a large scam created by the bigges "financial institutions" on the planet.
HairyPotter2006 3 years ago 8
Exactly, I try and tell that to people and they look at you like your nuts.
J4JB 3 years ago 4
Yeah those cunts should be lined up against a wall and shot.
turner60 3 years ago
This comment has received too many negative votes show
Why he got to be black?
dfreir1 3 years ago
yo all
Nothing better that self derision and sarcasm to bring down the ego of those big serious guys in black suits and ties..
"...the price is too high for that kind of mature wisdom ;O)..."
I am actually myslef being called every single day by a few of those advising me to "consolidate" my debts for my best interests...since this doomed "armageddon" financial crisis started..
wish you a good laugh...and lots of ...derision
eldjoudhi 3 years ago 5
Wow, I thought this was brilliant when I first saw it six months ago but now that all of which they'd spoken has actually come to pass I'm wondering why (if we know precisely who's done what and how) we don't simply hang the perpetrators and get on with it.
mnuez 3 years ago 11
They remind me how Eugene O'Neil, Charles Prince and Richard Fuld made business decisions...
MpLMx 3 years ago
Shall I jump out of the window?!
LOFL
SELL! SELL!
A19Z89 3 years ago 4
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18-F-Florida - MSG me on MSN. ID is in my profile. J
ah2rs4 3 years ago
excellent but in fact, the subprime problem was just one of the boneheaded moves that got us into this mess. there is much more left that remains to be laughed at.
reverendgisher 3 years ago 4
Very good comedic rendition of the sad World ecomomic meltdown. GREED has taken over the World. God Help Us! Love,Light,Peace, or Hate,Darkness,War.
RobBryan206 3 years ago 3
Newspeak is funny!
BuzzCoastin 3 years ago
buffering so slow....catching up 1-2 phrases every time
msbindu 3 years ago
The ending has a very powerful yet sad insight into the agenda of the people behind all that goes on in the money mill...
swyft187 3 years ago
When you think that this was recorded in 2007 !!!!! When you think that these two - gifted - comedians can debunk situations that the "specialised" press and politicians appear unable to understand !!!! If these two run for office one day, I will indeed vote for them !
mxbjacqu 3 years ago 6
and what do we learn from this?
keep on funding the arts ;-) ....
they're great investment for the future...
(eh, or aren't they?)
thomasrealdance 2 years ago
i love these guys
RevolutionaryJam 3 years ago
Smashing good time baby! YEAH!
dj1897 3 years ago
Hit the nail on the head there!
cymro5 3 years ago
It IS right
MidnightCardinal 3 years ago
I have been grappling to understand the present financial meltdown. It was always obvious to me that Bush was involved somewhere along the line, he had to be knowing the idiot that he is. However, these fellows make it all as clear as crystal in 8 minutes. No regulation.
mantloko 3 years ago 2
In the movie Wall Street, Michael Douglas states, "Greed is good." The wealthy believe this. Greed & corruption are two sides of the same coin. Greed turns the wealthy into crooks & thugs that proliferate like fleas on dogs. The greedy's sole purpose is to acquire more wealth. Governments, through taxation, practice this as well. Business & politics go hand-in-hand. But they make strange bedfellows. Sleep with the corrupt & you'll wake up with greedy, insatiable fleas that'll feast on us all.
metaspherz 3 years ago 3
What dhow is this?
aagha 3 years ago
It's "The South Bank Show" arts programme: ITV1(a UK channel) late on Sunday nights.
CobblyWorlds 3 years ago
This may be the greatest accomplishment in British comedy
karasoth 3 years ago 2
you should see more from them! they always reveal shocking fact after shocking fact in a comical manner
RevolutionaryJam 3 years ago
Bravo
In under ten minutes they can explain the situation better than the "economists" on the news
splintercell99 3 years ago 12
Brilliant. The entire Western world needs to see this now.
Gladius314 3 years ago 2
unfortunately, this is all so true, so correct.
lolcow 3 years ago 5
Yeah their is so much truth in all of this. Thats what makes it hillarious
karasoth 3 years ago 3
You should change the Description of this video to : "Holy shit, it came true..."
khutch6 3 years ago 9
V. Putin was "time Magzine's' 'person of the year'. his approach to bring russia ot of economic misery is pretty much the same as a. hitler's was. we need to do it hereis all. 1st thing, dissolve the 'fed'. r. paul has a bill in congress right now to do just that. it won't go anywhere, but remember he was the 1st to indroduce it.
Zampan0 3 years ago
Hitler was named "Man of the Year" in 1938 by Time Magazine.
Zampan0 3 years ago
"your pension fund" will suffer 'bail out' or no 'bail out'. if one reads how a. hitler brought germany out of the ecconomic morass the bankers put germany into, the answer to the problem becomes very clear.
Zampan0 3 years ago
Germany had already started to come out of the recession before the nazis came to power. Secondly, Hitler also carried out a massive rearmament programme - this programme was already under way in the US (record levels of military spending) and it has got US government debt up to unbelievable levels. If you are proposing a fascist dictatorship then that might "solve" the political troubles, but it won't solve the economic problems.
plevyman 3 years ago 4
If what I learned is correct, the Nazi / Hitler financing went like this:
The Metallurgical Research Company "Mefo" made exchange checks which were accepted by the German banks, even though they were not covered by actual money: so with the re-armament there came to be a HUGE debt if anyone actually would have had to pay this for true.
>> Money is a system of agreements for energy-collaboration nothing less or more. It is a mind-made system, a change of mind changes your money...
thomasrealdance 2 years ago
Ha-Ha-Ha!!!!
A19Z89 3 years ago
Former fed chairman Alan Greenspan has been a defender of derivatives since 1999 or before . Did you know that the same guy pushed subprime loans has also pushed derivatives
other regulatory agencies and Congress have taken a totally hands-off approach towards derivatives.
How Big a Problem?
How big is the derivatives market? Worldwide, it is $596 TRILLION dollars *. The derivatives market dwarfs the real market for goods and services, and acts likes an unregulated black market.
louis12346 3 years ago 4
oops, it's not at 6:57 on this clip
the one I saw earlier from brasschecktv didn't include the intro, so the timing of the weird frame is different
take a close look at it and see if you can find it
when I get the time I'll look for it in this clip and post the time
lightsabre6 3 years ago
the image is the start of a commercial
lax4ever1 3 years ago
Ooops! I forgot another major recipient of Investment bank payola: Senator Christopher Dodd of Connecticut. And there were those out there hoping he would be our watch dog! Hah!
thebigfist 3 years ago
Is there such a thing as "your" pension fund? Or is it "our" pension fund? Or "MY" pension fund a hundred miles off the coast of Chile?
qlight 3 years ago