Rep. Alan Grayson: If You Owe More than You Own, Why Should You Pay Your Mortgage?

[NotMuchNU]

Video has bad audio, no useful sound, just static. Fix, please?

[VIKING33NY]

Alan Grayson, I like you!!! You're doing a fantastic Job!! God Bless you Sir!!!!!!!!

[mcmarbles]

@VIKING33NY

He got voted out two months ago

[ralree]

Yeah, I should stop paying my investment account margin interest because my stocks went down too. What a joke.

[mikemamzic]

@ralree we aren't talking about a portfolio. You clearly have plenty of disposable income. This is about people's homes. If the banks want to swap the risk and sell it back to the people under AAA ratings, then I would tell the banks to ef off and just go under allready.

[MrJohnnyrace]

Kind Sir, Would you consider running with Ron Paul in 2012 ??? Please??  I am very sincere about this. We need Representitives that really do represent the people. Thankyou for your service to the people.

[dendryite]

We need more like you Mr. Grayson who don't speak w/a forked tongue and who actually work for your constituents.

[acanthus211]

America Needs Alan Grayson--Honest, Brilliant, Logic---can't be argued.

[evromsd]

I love this guy Alan every time a little more each time I see a new video. What lucky people in Florida.

[RepublicanDumbAss]

Varying estimates?! That's BS! He should know the exact number.

[RepublicanDumbAss]

If the banks create an environment that causes the value to go below the amount owed, the bank should suffer, not the consumer. Sick Bastards!

[sarcaz101]

@RepublicanDumbAss The banks didn't create this situation. Carter started this nonsense in the 1970's when he forced banks to loan money to people who could not afford to pay it back. People whom the Democrats knew would vote democrat. Simple. You can blame the banks until the cows come home. It simply does not change the facts.

[hoover20076]

alan iz a bulldog! I love him!

[CongressManwithNuts]

Excellent Sir Grayson, drive a wedge between the haves and the have-nots. I salute you Sir!

[gerry1976]

Here in the United States of America you never really own a Home, even after you pay it in total if you forget to pay your anual taxes, you loose your home. So the conclusion is that you really never own a house in the United States its always Government's property, and I hate that.

[marniespeaks]

give every American citizen a home

why not?

[mongobobo]

Wow, I like this Grayson on this point. Walk away from your home!  Real Estate is a scam.

[dizzymasekela]

Alan Grayson is for sure a congressman with guts!

[dinger2113]

Yeah, it's a complex decision for homeowners. That is what he wants you to think.

[barbcinque]

I know..... how about these banks can use the bailout money they got from the american citizens to pay to get these properties above water...instead of using the money to keep paying themselves huge bonuses and outrageous salaries so they can continue their corrupt, greedy and short sighted business activities.

[Charmer4856]

GET EM GRAYSON...where can I get ur t-shirts?

[RoidinRichie]

@Charmer4856 mycongressmanisnuts(dot)com

[zaphyman]

@RoidinRichie It's great to see someone who breaks the law try to fight someone who is preserving it by his actions. Taking Steroids is illegal here buddy. Alan Grayson used to clean Toilet bowls for work while he put himself through College. He Started ran and sold IDT which was a Telecom Company in the 90's He has lived the American Dream and is smarter then most people in Washington and could care less for the Politics. Roidin Richie... You sir are a Roidin idiot.

[RoidinRichie]

@zaphyman wow you're talking about intelligence when you're stupid enough to think that I use them? ever heard of the concept called a nickname? yeah no wonder you support this piece of shit bahahaha, 32% approval rating and falling

[zaphyman]

@RoidinRichie So Approval Ratings dictate what is right and wrong now? Polls are quite ignorant, because they basically only take into account those people in the area where the Poll is taken. You sir must be as straight Edge as it gets because most nicknames are opposite right? Never done any Steroids ever right? Sure..... Oh and calling a fellow American a piece of shit is really Anti-American and immature. Oh and calling me "stupid" is Ad Homonym. When you learn what that means Reply.

[RoidinRichie]

@zaphyman no approval ratings dictate whether the constituents (those are the people that the representative works for) want him to represent them, it's also how you get voted back in. I guess you don't know what a scientific poll is do you? maybe you should do some research into that. Calling a dumbass politician a piece of shit is very american, hence the right to free speech. But I'm sure you gave many compliments to Bush though huh. I've known basic arguments for awhile now, guess u didnt

[randomboyftw]

@Charmer4856 I was thinking the same thing

[hellshade2]

the thing that gets me is that many of the banks that hold these mortgages got bailed out by taxpayer money. the little guy has to toe the line and pay but the banks get what they need to survive. it's a turning world i tell ya.

[explorer2101]

Only 1/3 likely to be above water within a few years. What about the other two thirds??

It's time people stopped playing this game with corrupt bankers. Time to get out & force a major overhaul to the system.

Time the Federal Reserve lost it's right to issue money (as debt) - & this given back to the people, the government (as many erroneously believe is the case).

Time for a New World Order - just not the one that Rockefellers, Bush family & the rest of the ruling oligarchs have envisioned.

[thesoothsayers]

I believe we have a system of fraud where Wall Street can do what it wants and gets bailed out and the American middle class gets outsourcing, food stamps and loses their homes.

[explorer2101]

@thesoothsayers

Totally right. It is a system of grand fraud - with the consumer as the patsy.

Along the same lines as Textynn, we are playing Monopoly with mentally disabled & corrupt bankers. Why people keep playing without changing the system to remove the power from these con men beats me.

[mexmetal666]

Thank you!!!!! Thank you sooo much Rep. for asking these questions to the hypocrites that cause all problems in the USA including corrupted media including Fox News, Mtv, Minstream media, private fmailies controlling nations money, and many many many others!!!

[paex18]

i love him

[NeoConSIayer]

LOL it's the "designated survivor".

[penguinworm]

I hope he doesn't start caring about politics bullshit any time soon. He's one of the few good congressmen.

[PhilistineTheArtLuvr]

Wall Street got the freaking economy they wanted. For decades WS had been lobbying Congress to water down regulations so these freaking bastards could have it their way and rip off people and nearly destroyed this country.

It is high time for Congress to grow some balls and do what people like Greyson are trying to do by telling the WS spoiled brats there's a limit to what they can do.

[Sylverization]

"I would not recommend to people not to pay their mortgages"... because then I can't buy myself that awesome Mercedes I've been eyeing for a week...

[edeyn]

@Sylverization yeah, did you notice the slip of the tongue where he said it was beneficial to Lenders?

[loutcb]

Grayson is the real deal. he voted yes on HC , but i think he wanted to start saving lives. which i know debatable. but he is killin the FED and is great on foreign policy. Hope he doesn't get plane crashed " or sopmething. He should challenge Obama.

[DonQuixotedeKaw]

Welcome to slavery.

[LiberaLib]

grayson's a hero.

[1958louief]

MORE BULLSHIT!!!!! From "Our" Government.... They are as bad as the Credit Card People. Sugar coating everything so WE pay for there screw ups... GBA

[senses2000]

"Modestly increasing house prices" means they will raise the price instead of the market raising it. That means printing more money!!! Inflation and taxation without representation.

[MrDeppness]

BLAME THE FED! Artificially low interest rates.

[gamoonbat]

There will be no benefit to the lenders if those families who are upside down on their mortgages stop paying on their mortgages.

[quotendeutscher]

So bailing out big Wall Street banks is more important than helping out people who got tricked into getting subprime loans? Who is this guy kidding? Do the banks fuel the economy more than the middle class does? Why ruin millions of people's lives who could easily benefit society instead of earning nothing, being a socially excluded part of society, thus not being able to pay off ANY of the debt? Mr Grayson's question is actually brilliant and I think it should be considered in all sincerety.

[christmasdnc]

@quotendeutscher

Well I was never against bailing out the banks, but after that we should of made them our "bitch." More REGULATION!

[italstal07]

if habitat for humanity can build a house for under 90,000 then why cant anyone else??

[gamoonbat]

@italstal07 - Labor and job site safety, insurance, etc... for the workers.

[GreenEnergy2112]

Through no fault of my own, I have lost 60k in value from my house, I'm not under water but it hurts just the same...

[TheEggacy]

1:47

The guy on the right looks like he's sleeping

[bamboo4tameshigiri]

I wouldn't pay it. Then, I'd also be the guy that sets the house on fire rather than let a bank have it.

[BeantownJim]

My equity is on wall st. In a bankers pocket!

[weslenforever]

PRINCIPLE REDUCTION does NOTHING to reduce the neverending interest and fees that go along WITH the payment. How about limiting ALL interest and "collection" fees to 5 percent above the worth of the HOUSE and allow NO loopholes. The same should go for ALL loans from student loans to paycheck loans.

[pokerslut530]

I hope car loans start being spoken about as well. I personally have a 25% interest rate on my car loan. It was the only loan I could qualify for and my intention was to refinance it as soon as I could - but then the economy tanked and no one will refinance anything let alone a car. My bank flat out refuses to adjust my loan claiming it is literally against the law, claiming it is considered refinancing and they need a LICENSE to do this. 40% of my payment is interest and I'm about to default.

[BroBroDude]

@pokerslut530 25%? Holy shit. Give the car back and buy a junker for awhile.

Get better at poker, too, and it will be a very short while. =P

[pokerslut530]

@BroBroDude I know man... I almost didn't take the loan but had a good job at the time that felt really secure (but so much for that..) I am thinking that is the wisest option, too. I got burnt out on poker unfortunately. Even though it pays the bills it is depressingly monotonous after a few years.

[PoliticalSkeptic]

@pokerslut530  Well message me and i can provide you with a possible solution out of your car ;)

[cddorcas1]

Governments of the world care nothing for the people who live in them. Instead of bailing out banks and corporations, America could have paid off every mortgage in the US. If the US had done this corporations would have called foul, but wouldn't that have had a more positive impact on the economy? With the banks being paid what is owed they would be alright, the homeowners would have free capital to consume, and housing prices would not have collapsed. Why didn't the US demand more from banks?

[pokerslut530]

@cddorcas1 I've wondered the SAME thing. How would it HURT us anymore than paying the banks directly? If you're injecting pseudo-currency into the system, it doesn't matter what VEIN you pump it into. At least everyone could rest easy and not be pushed to the brink of considering armed robbery just to pay their freaking bills. You can't even just tell people to "just go get a job" these days when there aren't any to get!

[HuntrBlackLuna]

@cddorcas1 Paying to support big corporations is true-blue Muricanism but paying to help the American people is nazicommusocialism.

[alizee2010]

@cddorcas1

Countries like Sweden and even France have governments where there is clear advocacy for the people. If only we could have solutions like yours instead of only concern for the corporate elites.

[Melpheos1er]

@alizee2010 I live in France and if this was right untill now, our current president Sarkozy is starting to move this to a more pro corporation govt in particular media industry protection.

[independence4wales]

@alizee2010 you pays your money and you takes your choice. You will double your tax bill if you live in Europe compared to the US. I live in Europe. I wish I paid less taxes.

[robs2500]

@alizee2010 sorry to diseppoint but i am Swedish and we live in a police state. You see here everyone thinks that everything is ok so nobody rocks the boat yet ye have only 6 basic rights.....

[VVillowz]

@alizee2010

Tell that to somebody who thinks in terms of "socialism" and "capitalism".

[bamboo4tameshigiri]

@cddorcas1 "Why didn't the US demand more from banks?" Because this is a fascist country. You didn't know that?

[ebruceii]

Sure, Mr. Donovan...you mean the same "program" that was put into motion in order to help an estimated 4 million families, but only ended up benefiting about 150,000???

[Textynn]

What, pay what the property is worth. ?? NO, living in America is like playing Monopoly with an aggressive mentally disabled older kid that cheats the entire time.  That's what you get in this country.

[alizee2010]

Thank you, Mr. Grayson.