Funny how these thieving banksters weren't held legally responsible, and millions of Americans were wiped out by these schemes. Seems like an enormous shift of money has happened. Wonder how many years it will take to clean this mess up, if it is even possible to do so without restructuring the entire system.
Bullshit! Pushed minorities into loans. how can anyone take this crap seriously? We know the Community Reinvestment Act was government forcing banks to alter their lending practices so "minorities" (You Progressives and your collective terms) or people with little or no credit could receive loans. This was one more social justice failure by the govt. This clip bleeds desperation. I see the host is back from MSNBC. How does it feel to get racially screwed by Sharpton? "White All Night" victim. HA
@THERepublic1971 Yup. Everyone knows the federal government got involved with the housing market 10+ years ago to help "minorities" get loans and they didn't pay make there payments (shocker). Which caused the housing crisis
I cant believe this leftist propaganda. I've always noticed that whenever leftism fails, they always blame something else.
@fargonbastedge A youtube video using the term "Zionists". I think you missed the key point. "lower the credit requirements for home loans". Thats your issue. There was real discrimination. Problem is, they should have made sure someone can afford the home before selling it. Thats common sense, I dont see how minorities fits in that, rather than poor people living out of their means.
we go to war with country's and its normal to us we hear about death tolls and casualties of war thousands, hundred of thousands dead collateral damage and its all very disgustingly normal for us.why whats the point are we any free'r has anything changed other than the quest for power.
wow yeah ya know i could be wrong but the "system" we have of government or this bs democracy we have or whatever you wanna call it is not working at all.of course obama followed the bush admin he's just a puppet the bankers run the world. whatever im not voting and i urge you not to partake in the strictly participatory act of voting. divide and concur? if our civilization lives long enough they will look back at us and talk about how horrible our existence was.
Listen brotha man....he can only do what he can do, and with the house mostly republicans what can he really do? who is there to help him, but god and everyone else is asking and not willing to help him....come on....this questions is what are you doing to help to situation?
He was just a dancing puppet shown to the masses to distract them from noticing the puppeteer robbing them blind and passing a whole bunch of laws that gradually tightened the grip the government has over the american people. Guatonimo, healthcare? smoke screen issues covering up what was really going on!
1. 1998 Brooksley Born ( white woman ) wanted to regulate the subprime mortages. She was Chairman of the Commodity Futures Trading Commission in America.
2. 5 Jews defeated her : Alan Greenspan. Robert Rubin, Lawrence Summers, Arthur Levitt & Timothy Geithner ( appointed Obama's Treasury Secretary )
3. In 2008 these subprime mortgages exploded & thousand of Americans were homeless.
@nottinmatterz2day TYT is totally patriotic. That's what our country is all about: free speech, free thinking and exposing what is wrong so that "we the people" can fix it!!!
Gawd I hate when people do this. YOU SIGNED YOUR NAME ON THE DOTTED LINE FOR THE LOAN YOU DUMBASS. Not the banks fault.
Minorities don't understand capitalism they've lived in a hunter gathering society for 10,000 years. All of this is new to them. Lions, tigers, bears and personnel responsibility oh my!
That doesn't explain why some major banks weren't smart enough to avoid "needing" to be bailed out. THESE BANKS OFFERED LOANS WHICH CLEARLY ASSUMED TOO MUCH RISK. Not my fault!
No you fucken idiot. First, generalizing minorities as hunter-gatherers is completely wrong. For one, you conveniently forget about the great empires of Mesoamerica, Asia and Africa. Two, minorities do understand capitalism. Capitalism would not exists without the slave labor of indigenous people and Africans. The entire western hemisphere would not be what it is today if it wasn't for the forced labor of these people.
@fargonbastedge wow, how unbelieveably rascist!!! It blow my mind how utterly ignorant someone who obviosly comes from such a learned "people". What a joke!
@fargonbastedge Who understands anything on any contract corporate America pushes in front of us? They are written to protect their asses and really should be invalid since the signers are intializing they have read the contracts and the other party knows they haven't.
@onenickelmiracle and its that attitude that's destroying America. ITS YOUR responsibility to understand everything and if you cant. Then well maybe your to stupid for survival?
@fargonbastedge Your Darwinian line of thinking was tried by Hitler and the world agreed against it. Listen, what is wrong with America is hypocrisy and a lack of morals at every turn. If you cant conduct honest business, you shouldn't be in business.
@onenickelmiracle It is an honest business. Those people couldn't pay for there loans because they couldn't afford them and ARM stands for adjustable rate mortgage
I don't know how to explain this to you any easier. So if I believe in personal responsiblity that makes me Hitler?
My god, what more do you them to do?
"Listen, what is wrong with America is hypocrisy and a lack of morals at every turn"
I agree feminism, multicultrism, allow gays to marry is whats bringing america down
@TheGame21x The world doesn't work in survival of the most "equality", but it works in survival of the strongest...
and the sooner you video game playing no nothing liberals realize that. Then you'll understand why socialism always fails, why feminism is destroying our culture and why multiculturalism doesn't work, because people fight over there differences and don't fight over there similarities.
I've always felt President Obama never went far out of his way for black Americans, because he's afraid of backlash from white Americans. He wants to be re-elected and that's not gonna happen when the majority thinks he's giving out special privileges that won't help them. He has done a few minor things though.
did the government force banks to give loans to minorities because they couldnt get loans because well. they couldn't afford it. so the govt said "banks youre racist give them loans"
I swear to god..if i can do it with credit cards and carpayments..I pay cash for everything..I will never have mortgage....Im just tired of being raped by the wall st blue suits...
This is true. I worked for Chase (and Washington Mutual before Chase took over) and we were paid significantly more for negatively amortizing loans - many of which caused people to lose their homes because they didn't understand how horrible the loan was and that it was going to blow up in their faces in five years. Anyway, the guy who used to be one of the Big Deals for their sub-prime unit (Long Beach Mortgage) is now a Big Deal with the Foreclosure Prevention Program (what a joke that is).
Unchecked, unregulated, unethical capitalism is not capitalism at all. It's gangsterism. And the smartest gangsters learn how to work the system so they either don't get caught or if they do they have managed to twist the law just enough that they haven't broken it. When the buck becomes all the "in god we trust" anybody can count on, then forget about living in a decent society. Survival is all, the predators rule, and the rest are just food on the chain.
The camera moves such as your opening shot in this clip are really bad. It's like your producer wants to emulate shows like The Daily Show or Colbert Report, etc but doesn't really know how. I love the show, and think it IS real news - but you've got to get rid of these bad camera moves so you don't lose credibility with some people (not me, but some people do take such things into account).
I'm very aware of this. As I've known people that deal in real estate. I have family that deal with real estate. One thing I've heard that if you don't know your homework when buying a home you will be screwed. Think about it. At one point in time you couldn't get a CC unless your income was above a certain level. Now they push CCs on anyone stupid enough to apply. Not to mention flood your mailbox EVEN if you already have one. Especially college kids.
Bank Loan Advisors made 7x the commision for a riskier loan, giving them ample reason to take advantage of the uneducated (by proportion) minorities: SCAM! Fraud and Minorities are an easy catch for bankers looking to CASH IN.
Some of the blame lies on the person signing on the dotted line. First, you should know what you can afford, then, you should know what is going on in the market. Who is getting what rate, it is your job to find that out. So, if you are getting stiffed, you can bring it up, hey, I have a good credit score, why am I not getting the rate as that guy who has the same score as mine. If you jump in blind, then don't be surprised if you get screwed!
1. Sweden offers Universal Healthcare and they have a growing economy and are pulling out of this mess faster than us. 2. Swedes prefer that everyone is covered and realize waiting time for some surgeries may be longer......imagine that, Atheist acting more Christian than Evangelical clowns. Evangelical fucks want a certain few to have all the conveniences while the rest watch their kids die of cancer because their insurance called it a "pre-existing" condition.
@theUSER101 the bailouts are because they are too large to fail, because the repeal of the glass-steagall act in 1999 got rid of valuable regulation that protected the markets. Also being able to gamble on their own losses because of no regulations through credit default swaps and derivatives. Your logic is backwards, the companies lost all their money BEFORE they got bailed out, unless you think regulation caused the companies to lose all of their money and go bankrupt?
@rsty614 Anyone who believes that these banks would have taken the risks they did without government guarantees, knows nothing about business. In some cases these corrupt scumbag bankers were catering to the people they knew wouldn't be able to pay them back, that is not a free market and that is how you run out of business....unless the government guarantees the loans so that you have nothing to lose. Clearly your logic is backwards. Typical of people who know nothing about business.
@theUSER101 I run my own business, and anyone who thinks that there are no risks in business doesn't know what he is talking about; the basic problem of your dogma is that businesses in this case banks take no responsibility for being bad business people, if I make horrible decisions and make bad risks and run out of money and then a friend bails me out, you would say "well you wouldn't have made those mistakes and risks if it wasn't for your friend who gave you the money afterwords"
@rsty614 I could easily say the same thing of your dogma. I hate how you people let your dogma cloud up such simple logic. First off, it would be your friend saying he would bail you out, it would be like this.....You friend telling you "in america everyone deserves a house, make it happen and if people happen to no pay back their loans....I will force my family to bail you out." The government forced the people to pay for for their mistakes, not to mention they clearly enabled it.
@theUSER101 over 65 U.S. banks have become insolvent and have been taken over by the FDIC since the beginning of 2008. Combined, these banks held over $55 billion in deposits, and the takeovers cost the federal government an estimated $17 billion.
If your theory is that the bailouts caused the bad business behaviors then why did it happen in 2008 and not 1998 or not 1988 or not 1978?
@rsty614 Continued: The government will keep getting involved in the market and in 4 years we will have another meltdown and again, you people will claim it's the corrupt banks. Bottom line, if you give people a chance to maximize profits without any risk of running out of business, they are going to do it.
@theUSER101 the answer is because before 1999 commercial and investment banking were not allowed to join, do you understand the implications of this? if a commercial bank invests riskily, and the money they are using is coming from clients depositing money, and they lose these risky bets then they must be bailed out. even allowing these banks if you regulated how they bet the money you could have prevented the bailouts
@rsty614 This is supposed to be America, there should be no bailouts....EVER...no matter what. With you comments you clearly want more regulation, who do you want to do the regulation? You liberals never answer this question...who do you want to do the regulations. All the politicians do insider trading, they cheat on their taxes etc etc, who cannot be bout? Look at the SEC, look at the FDA...look at these Gov regulation programs....you want more regulation hahahha? why not less power?
@rsty614 Continued: The idea that you think businesses would loan out money to any and potentially run out of business, is insane. You cannot think that my logic is somehow bad. Every company is greedy....if you give them the chance to maximize profit, they are going to do it. The government guaranteed loans, they had nothing to lose. All you do is ask for more regulation, who do you want to regulate? Every government offical is bought and paid for, if not, thats nothing money wont change.
@theUSER101 "every company is greedy...if you give them the chance to maximize profit, they are going to do it" and it is up to the govt. to make sure that doing whatever it takes isn't inherently unfair nor endangering our society, by setting up regulations...
@rsty614 Contined: it is up to the government to LET THE MARKET FUNCTION. If someone makes mistakes, they pay....there is no such thing as bailouts. The bailouts no only didn't work like Paul etc have said they wouldn't but we are more in debt and headed towards another disaster, and I'm paying for it. Who do you want to do the regulations? Which corrupt politicians should write the bill?
Ridiculous that one of the top comments is saying that this video is some type of racist cruelty and Cenk is some type of irrelevant person. Oh shut up! Seriously, saying Cenk is some type of racist is so stupid on so many levels. People like sturos1 think anyone even talking about another race, no matter what the subject is, is a racist. Example: The Japanese love fish <RACIST The Chinese have an exotic culture<RACIST Mexicans are hard workers<SUPER RACIST Africa has an aids problem<RACIST
Greatest scam in the history of the United States! Give Minorities loans you know will blow up because of the interest rates, package em up into securities and sell em around the world, Bet against em, Pocket Billions of dollars when they blow up because you bet against em, hold a gun to the taxpayer head and demand a bailout, Use the 7.7 trillion dollar bailout to make more money, Lay off 8 million workers and dismantle Social Security, Medicare, Medicade in the process. OFF WITH THEIR HEADS!!!
@Straightshooter513 Bill Maher commented a while back that we should hang the top executives from the stock exchanges - that's a bit bloodthirsty for me but after reading about all the fallout, perhaps he has a point.
Divide and conquer tactics work on us Blacks because they always have since slavery, when they were used most blatantly. Once it ended, it has always been fairly difficult for us to work for each other and progress the group.
There are no consequences for selling out--only at the level of the "snitching" stuff we all hear about when it comes to gangsters.
OF COURSE THE FIRST "ACCEPTABLE NEGRO" PRESIDENT WASN'T GOING TO BRING ANY RESULTS FOR BLACK PEOPLE.
All of the Banks were forced to give home loans to people who could not afford them.... Barney Franks, Chris Dodd and Bill Clintoooooon all Democrats forced the banks to loan the money and causing the collapse.
@politicalratfinder George "The Chimp" Bush's words in 2003 before passing the American Dream Downpayment Act which reduced regulations on private banks to allow for predatory lending practices and gave 200 Million a year to the private banks;
"More and more people own a home in America thanks to MY administration"
@politicalratfinder Forced? Did you not just hear what he said? Have you been living under a rock? Where have you been since 2000 if you THINK it was the Democrats? Everything you just said is bullshit.
@politicalratfinder Name the LAW that forced Well Fargo, Leehman Bros, Goldman Sachs,ect to hold 83% of the toxic sub-prime loans (according to the Congressional Budget Office and numerous news sources including FOX!!) when the housing market blew up. You know why you can't? The fed. gov. didn't force ANY of those loans by law. 100% lying bullshit. The best part is Newt Gingrich made 1.6 MILLION LOBBYING FOR FREDDIE & FANNIE according to FOX news as well! LOL
@politicalratfinder REPUBLICANS were in charge of the White House, the Senate AND the House of Representatives from 2000-2006, yet Democrats 'forced' banks to loan 'to people who could not afford them'.
HOW? The minority party has almost no power to do anything in the House of Representatives. In the Senate, the minority party's only real power is the filibuster. And Bush could have vetoed any bill he didn't like...
You just might be the stupidest person on the internet.
@illphillyresident Typical ignorant liberal idiot..... re-read what I said... it all happend under Bill Clintoon. Google it if you don't believe me... You liberals are too stupid to run government.
@politicalratfinder Phil Gramm, Jim Leach, Tom Bliley - all Republicans, forced a bill that allowed partial repeal of Glass Steagal and Gramm was the point man in getting credit defaults swaps exempt from SEC regs and for the creation of the "Enron Loophole".
this is absolutely ridiculous. there has NEVER been any instance of financial injustice in the history of the planet earth. i for one will not stand to listen to this trash news.
@GeneralKenobiSIYE if there's this "financial injustice" occurring on the planet, then why is it that there's no financial injustice occurring on the planet? exactly. oh, and i already know what cheap trick you liberals use to answer this question: "that's a loaded question, u cant ask a loaded question in an attempt to validate something, b/c that's the definition of ignorant bigotry". typical ad hominem and strawman and other logical fallacies propagated by the venom of libs
@katsumorymoto So forcing people into loans that are impossible to pay off, when they qualify for much better isn't injustice? Pillaging our economy then demanding a bailout that the tax payers are forced to pay isn't injustice? Using money and lobbyists to influence government policy in your favor and against the rights of the people isn't injustice? I'm not a Liberal, I'm a Constitutionalist Patriot. And these banks have gone too far and have destroyed our rights for money.
@katsumorymoto Oh and you can go suck the corporate cock some more you brain dead moron. If you cannot see the BLATANT raping of our country, liberties, economy, and government, then there is no point in arguing with you as you lack the ability to comprehend the scope of the situation ALL OVER THE WORLD! Go fuck yourself.
7 people are Paultards still trying to push the fact-less argument the U.S. Gov. FORCED Wells Fargo, Shittibank, Skank of America, Morgan Stanley, ect by law to own 83% of the risky derivative, sub-prime loans they re-sold as AAA rated bullshit that took down the housing market to try to save the reputation of their rigged "free market"
I'm getting sick of all these "former" people blowing the whistle after the fact. Did you do anything while you were there, or just stuff your pockets? I am tired of these assholes being complacent in a system they KNOW is immoral and unfair, then only standing up after they have made their money. Sorry, but this guy is just as guilty as Chase Bank and was part of the problem. Blow the whistle when their is still time to help people, you cowards.
Yeah, that's why I think Democrats has the higher probability to cap the bankers bonuses probably their salary too. Republican probably will let banking system falls and lot of business falls, more unemployment for a while if protest become bigger the rich will not open new business for a while and then chaos or have DPRA.
yo Cenk...just watch the last black friday videos on any Walmart stores......they were killing each other to buy x-boxes...........most of them were latinos and blacks......what do you say now????
Now, as a black person, this is the kind of racist cruelty I want to stop in this country. Not some irrelevant person talking crap on a train or radio show.
@bobbytiger Sorry troll, nothing factual in your statement here.
The reports clearly show that a Minority family with an income of $68,000 was 5 TIMES more likely to be pressured into a Predatory Sub-prime Loan when compared to a White family that made the same or LESS in income.
Also the fact that supplied emails show the Administrators and Loan Agents in these Private Banks referred to these Predatory Loans as "Ghetto Loans for the Mud People" shows they had a clear racial motive.
So basically America still has a kind of institutionalized racism. Government and these Financial institutions are in bed together and blacks and hispanics but more so blacks are further marginalized. So are the black panthers going to be resurrected sometime in the future.
Cenk, spare us the feigned anger, OK? I know you're in media, and impression means everything, but your grandstanding is a bit tiresome. You did that when you were a conservative trying to get into right wing radio, and you're doing it now when you're a lib in internet radio broadcasting.
And when you bellow as loud as you do, your echo in the bare floor pop can warehouse that you find yourself in resonates across the entire video.
We'll fukk over White America too BUT our bread & butter is screwing over minorities. Yeah, that's raw and altogether not surprising. Shyt, the only folk surprised by this story are non-minorities. This is but another in a long line of historical atrocities visited upon the nation's underclass. Even now someone is secretly thanking God they aren't a minority. As bad as things are for this nation as a whole the sad reality is... it is still considered a worse condition to exist as a minority.
The practice was perverse, but to make this into a racial issue is ridiculous. These loans were set up to service people who normally wouldn't be able secure a mortgage. Government backed companies like Fannie Mae guaranteed these loans that never could be paid back. The perverse incentive was thus technically put in place by the government. Bankers knew they were selling shit, but they wouldn't have made the loans in the first place without Fannie Mae. Both government and banks were at fault.
@Krifko Sorry, but no one is “making” this into a racial issue. The direction at which the majority of these practices were steered “makes” this a racial issue, not the person(s) bringing light to them. Too many times people assume that just because whites were affected, minorities weren’t targeted. How whites (the majority) are affected isn’t a good litmus test in determining America’s status in regards to justice.
@Krifko The minority face of the sp lending debacle is not the result of ppl of color desiring such instruments, nor b/c laws required the giving of loans to low-income ppl of color, an argument often made by conservatives that is entirely w/o merit. Lenders that aren’t even covered by fair-lending laws gave out most of the high-cost, risky loans. Loans given out under fair-lending laws (Community Reinvestment Act) tend to perform better & have far lower foreclosure rates.
@Krifko The top-producing loan officers specifically steered blacks who could have qualified for lower-rate loans into the high-cost instruments. Loan officers would often alter credit information of black borrowers on their applications in order to flip the loan from prime to the subprime category.
@Krifko Baltimore NAACP sued Wells Fargo for targeting black communities with subprime loans. Former bank employees admitted in court affidavits that loan officers regularly referred to black customers as “mud people”, and called the loans sold to them “ghetto loans,” and offered financial bonuses to loan officers who successfully pushed subprime loans in minority neighborhoods. But to "make" this into a racial issue is ridiculous, right?
@Krifko Up to half of the sp loans given out went to persons that could have (and should have) qualified for lower rates. In NYC black households w/ annual incomes of $68,000 or more were 5 times more likely to have a sp mortgage than white households w/ similar or LESS income. Warnings about sp lending & it’s consequences for ppl of color had been sounding for years, w/ little attention paid to minorities that were loosing their homes at high rates, until the impacts began to affect white ppl.
@Krifko By 2006 blacks and Latinos were 2.5 to 3 times more likely to be subprime than mortgages sold to whites. Disparities sometimes reflect factors of creditworthiness and collateral, but the numbers indicate that persons of color are more likely to be steered to a subprime loan at higher cost than are whites with the same income and credit scores. A study in 2006 found that even high-income black and Latino borrowers were more likely than low-income whites to wind up with a high-cost loan.
Anyone listen to Adam Carolla's rant about OWS? And Stern has been finding people at OWS to pick apart ... so it's not just Fox News ... talk about an uphill battle.
How dare Chase put people in handcuffs, point a gun at them, drug them and then put the pen in the hands of these minorities to sign for these loans.
By the way, Cenk, if somebody who lives within 10 miles of a public library is "uneducated," he or she has nobody to blame but himself. I learned Spanish (and several other languages) FLUENTLY by using the library and the internet. Why the hell can't these people do the same thing when they live in an ENGLISH SPEAKING COUNTRY?!
@payasoinfeliz Yup. Its a parental responsibility to make sure there children don't buy porn and smoke cigs, not a government responsibility. Why should my money be spent on regulating that if I have well behaved kids? Oh hell no. And if those kids become a bad influence on my kids lets say at school, ok. Lawsuit.
Clearly the bankers were wrong but the borrower also shares responsiblity here. I am black with great credit but was still offered an interest only loan which I found insulting so I declined and found another mortgage broker who offered a 30yr, fixed mortgage. Borrowers have the responsibility of educating themselves so as not to become victims.
@TechHelpReformed yeah, and why is my tax money going to police and fire trucks when i have never needed them in my life. i dont even own a car, but i pay for roads. wtf! what is this thing called society i find myself in? everyone but me should move out of the usa so i can enjoy the land i am on without these encumbrances.
@payasoinfeliz Well, the constitution states we must provide a common defense. So like the military and police. But yeah i do agree with fire trucks, you should pay for your own security service for fires, maybe like ADT if only it had its own fire service and didnt have to call local authorities. And there is this something called property rights, so unless you bought the whole USA, you can't be the only person living there.
5:17 Cenk says he believes in equality for everybody.
So why the fuck is it right to tax one group of people more than another group of people? How is that equality? Also, I a agree with @jeffxl12 . If you can't read the damn text, then you deserve to get screwed. Pay your 250 an hour for an attorney to look over the loan if you really cant understand it. And I also don't understand why i cant be racist towards blacks and latinos when its so true that they cause crime, poor, welfare abusers etc
@TechHelpReformed speking of taxes i just want to point out something, you always hear the bs about the rich paying high taxes but u know who really gets shafted?, single people that make 40k and up & have no dependents.,
@qwezzie hey I am actually FOR equality. No one should pay more taxes than another, no matter what the situation is. Everybody should pay the same amount, (I think) or a flat tax where everybody gives 10 or 15% and the government HAS to survive on that. But what does that mean? It means no entitlements, no regulations, so shit like what the other fellow said about children buying porn and cigs, thats a parental responsibility. The government will not regulate and use somebody else's tax money.
I partially blame Blacks and Latinos because they know BANKS historically have given them loans at a higher rate than whites. Go to the library do research on loans, contact a financial advisor, contact a local university and speak to for help regarding loans, etc.,
Keep saying it as it is Cenk....because the mainstream media is mute (or bought off) in telling us what is really going on here.....whilst we as the 99%, are continually being scammed.
WHy were subprime lonas paying higher commissions? The answer is that the system wanted loans that would fail and payed a premium for bad loans. You want something you pay more for it.
Cenk seems to remember Obama is black, but he somehow forgets who raised him.Obama was raised by WHITE PEOPLE and he attended an elite WHITE school called Harvard. Obama was hand picked by the Neocons aka NWO and attended Bilderberg in 2007 along with Hilary Clinton. Why Cenk is so shocked Obama has no sensitivity of the black struggle when Obama himself is a WHITE man that just so happens to have a black father who was nothing more than a sperm donor. Jeez Cenk, epic fail on your part.
@shadowedge69 He does seem to forget that Obama was raised by a conservative christian. I'm surprised the woman didn't disown her daughter and Obama. Seems like she wasn't a completely inhumane person.
Is it sad where I hear this and I'm just thinking that it's old news? That we've known this all for years?
And yet, it's still important to hear that the rich aren't rich because of hard worker, or because they were smart or invented important products, it's because they abused the system and took people for suckers.
Capitalism can't work forever with this greed, and we're seeing it collapse. We've gotta fix it, it's still better than outright socialism, but we may need socialism to help.
So Barney Frank took the hit...I mean...who's going to believe some lying Gay congressman, over reputable business men...Really...!
deetjay1 1 day ago in playlist Wall Street Greed
Received
Louieinoz 1 month ago
Funny how these thieving banksters weren't held legally responsible, and millions of Americans were wiped out by these schemes. Seems like an enormous shift of money has happened. Wonder how many years it will take to clean this mess up, if it is even possible to do so without restructuring the entire system.
sauroid1 1 month ago
Bullshit! Pushed minorities into loans. how can anyone take this crap seriously? We know the Community Reinvestment Act was government forcing banks to alter their lending practices so "minorities" (You Progressives and your collective terms) or people with little or no credit could receive loans. This was one more social justice failure by the govt. This clip bleeds desperation. I see the host is back from MSNBC. How does it feel to get racially screwed by Sharpton? "White All Night" victim. HA
THERepublic1971 1 month ago 2
@THERepublic1971 Yup. Everyone knows the federal government got involved with the housing market 10+ years ago to help "minorities" get loans and they didn't pay make there payments (shocker). Which caused the housing crisis
I cant believe this leftist propaganda. I've always noticed that whenever leftism fails, they always blame something else.
fargonbastedge 1 month ago
@fargonbastedge "Which caused the housing crisis." I would like to see proof of that.
newfish09 1 month ago
@newfish09 sure
/watch?v=wASFRavojBY
fargonbastedge 1 month ago
@fargonbastedge A youtube video using the term "Zionists". I think you missed the key point. "lower the credit requirements for home loans". Thats your issue. There was real discrimination. Problem is, they should have made sure someone can afford the home before selling it. Thats common sense, I dont see how minorities fits in that, rather than poor people living out of their means.
newfish09 1 month ago
we go to war with country's and its normal to us we hear about death tolls and casualties of war thousands, hundred of thousands dead collateral damage and its all very disgustingly normal for us.why whats the point are we any free'r has anything changed other than the quest for power.
28danimal 2 months ago in playlist TYT
wow yeah ya know i could be wrong but the "system" we have of government or this bs democracy we have or whatever you wanna call it is not working at all.of course obama followed the bush admin he's just a puppet the bankers run the world. whatever im not voting and i urge you not to partake in the strictly participatory act of voting. divide and concur? if our civilization lives long enough they will look back at us and talk about how horrible our existence was.
28danimal 2 months ago in playlist TYT
Listen brotha man....he can only do what he can do, and with the house mostly republicans what can he really do? who is there to help him, but god and everyone else is asking and not willing to help him....come on....this questions is what are you doing to help to situation?
TheKareem34 2 months ago
He was just a dancing puppet shown to the masses to distract them from noticing the puppeteer robbing them blind and passing a whole bunch of laws that gradually tightened the grip the government has over the american people. Guatonimo, healthcare? smoke screen issues covering up what was really going on!
JGvisions 2 months ago
This has been flagged as spam show
Jew & Economic Destruction
1. 1998 Brooksley Born ( white woman ) wanted to regulate the subprime mortages. She was Chairman of the Commodity Futures Trading Commission in America.
2. 5 Jews defeated her : Alan Greenspan. Robert Rubin, Lawrence Summers, Arthur Levitt & Timothy Geithner ( appointed Obama's Treasury Secretary )
3. In 2008 these subprime mortgages exploded & thousand of Americans were homeless.
4. Watch PBS video " The Warning " on youtube
5. Testimony to US Congress included
Stevie68000 2 months ago
when did TYT get patriotic with the flag background?
nottinmatterz2day 2 months ago
@nottinmatterz2day In my memory it's been like that for quite some time
BaseBallerBHS11 2 months ago
@nottinmatterz2day TYT is totally patriotic. That's what our country is all about: free speech, free thinking and exposing what is wrong so that "we the people" can fix it!!!
pantheon777 2 months ago
Gawd I hate when people do this. YOU SIGNED YOUR NAME ON THE DOTTED LINE FOR THE LOAN YOU DUMBASS. Not the banks fault.
Minorities don't understand capitalism they've lived in a hunter gathering society for 10,000 years. All of this is new to them. Lions, tigers, bears and personnel responsibility oh my!
fargonbastedge 2 months ago
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kmarinas86 2 months ago in playlist Uploaded videos
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@fargonbastedge
That doesn't explain why some major banks weren't smart enough to avoid "needing" to be bailed out. THESE BANKS OFFERED LOANS WHICH CLEARLY ASSUMED TOO MUCH RISK. Not my fault!
kmarinas86 2 months ago in playlist Uploaded videos
@fargonbastedge
No you fucken idiot. First, generalizing minorities as hunter-gatherers is completely wrong. For one, you conveniently forget about the great empires of Mesoamerica, Asia and Africa. Two, minorities do understand capitalism. Capitalism would not exists without the slave labor of indigenous people and Africans. The entire western hemisphere would not be what it is today if it wasn't for the forced labor of these people.
Your ignorance kills. Read a book.
iya290 2 months ago 2
@fargonbastedge wow, how unbelieveably rascist!!! It blow my mind how utterly ignorant someone who obviosly comes from such a learned "people". What a joke!
pantheon777 2 months ago
@fargonbastedge Who understands anything on any contract corporate America pushes in front of us? They are written to protect their asses and really should be invalid since the signers are intializing they have read the contracts and the other party knows they haven't.
onenickelmiracle 2 months ago
@onenickelmiracle and its that attitude that's destroying America. ITS YOUR responsibility to understand everything and if you cant. Then well maybe your to stupid for survival?
fargonbastedge 2 months ago
@fargonbastedge Your Darwinian line of thinking was tried by Hitler and the world agreed against it. Listen, what is wrong with America is hypocrisy and a lack of morals at every turn. If you cant conduct honest business, you shouldn't be in business.
onenickelmiracle 2 months ago
@onenickelmiracle It is an honest business. Those people couldn't pay for there loans because they couldn't afford them and ARM stands for adjustable rate mortgage
I don't know how to explain this to you any easier. So if I believe in personal responsiblity that makes me Hitler?
My god, what more do you them to do?
"Listen, what is wrong with America is hypocrisy and a lack of morals at every turn"
I agree feminism, multicultrism, allow gays to marry is whats bringing america down
fargonbastedge 2 months ago
@fargonbastedge You are the king of the trolls.
onenickelmiracle 2 months ago
@fargonbastedge To the common dumbass liberal who doesn't understand finance or personnel responsibility... I can see why you'd say that...
fargonbastedge 2 months ago
@fargonbastedge I've seen some morons in my day but wow, you take the cake.
"I agree feminism, multicultrism, allow gays to marry is whats bringing america down"
Wow. Just...wow.
TheGame21x 2 months ago
@TheGame21x The world doesn't work in survival of the most "equality", but it works in survival of the strongest...
and the sooner you video game playing no nothing liberals realize that. Then you'll understand why socialism always fails, why feminism is destroying our culture and why multiculturalism doesn't work, because people fight over there differences and don't fight over there similarities.
fargonbastedge 1 month ago
I've always felt President Obama never went far out of his way for black Americans, because he's afraid of backlash from white Americans. He wants to be re-elected and that's not gonna happen when the majority thinks he's giving out special privileges that won't help them. He has done a few minor things though.
SusseMedel 3 months ago
haha that adds up to 99%. THE 99% OWS!
dralezero 3 months ago
did the government force banks to give loans to minorities because they couldnt get loans because well. they couldn't afford it. so the govt said "banks youre racist give them loans"
dralezero 3 months ago
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dralezero 3 months ago
Gee...how surprising that this happens in America...is it any wonder America is sinking and burning?
pooyan6969 3 months ago
Everyone was screwed by subprime.
suddendee 3 months ago
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President Ron Paul will never send Americans to fight & die for Israel & Jew
Vote Ron Paul !
Stevie68000 3 months ago
I swear to god..if i can do it with credit cards and carpayments..I pay cash for everything..I will never have mortgage....Im just tired of being raped by the wall st blue suits...
stevefromPA2 3 months ago
@stevefromPA2
AMEN STEVE! If I can't pay with cash, I'll just do without and save until I can pay cash for it.
publicatdamagnificen 3 months ago
Chase sold my loan while I was in the middle of loan modification...
stevefromPA2 3 months ago
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Enemy of Greece, Ireland,Italy,Spain & USA - Jew
1.Goldman Sachs CEO, Lyold Blankfein- Jew
2.IMF Deputy CEO, John Lisky-Jew
3.Ex IMF CEO,Dominic Strauss-Jew
4.World Bank CEO,Robert Zoellick-Jew
5.Ex World Bank CEO, James Woolfesen-Jew
6.Fed Chairman, Ben Bernanke-Jew
7.Ex Fed Chairman, Alan Greenspan-Jew
8.Obama Treasury Secretary, Tim Geithner-Jew
9.George Bush Treasury Secretary, Hank Paulson-Jew
Stevie68000 3 months ago
I never comment but that was a good segment thank you
Mayion23 3 months ago
This is true. I worked for Chase (and Washington Mutual before Chase took over) and we were paid significantly more for negatively amortizing loans - many of which caused people to lose their homes because they didn't understand how horrible the loan was and that it was going to blow up in their faces in five years. Anyway, the guy who used to be one of the Big Deals for their sub-prime unit (Long Beach Mortgage) is now a Big Deal with the Foreclosure Prevention Program (what a joke that is).
FruitFly2020 3 months ago
Unchecked, unregulated, unethical capitalism is not capitalism at all. It's gangsterism. And the smartest gangsters learn how to work the system so they either don't get caught or if they do they have managed to twist the law just enough that they haven't broken it. When the buck becomes all the "in god we trust" anybody can count on, then forget about living in a decent society. Survival is all, the predators rule, and the rest are just food on the chain.
wlljon7 3 months ago
The camera moves such as your opening shot in this clip are really bad. It's like your producer wants to emulate shows like The Daily Show or Colbert Report, etc but doesn't really know how. I love the show, and think it IS real news - but you've got to get rid of these bad camera moves so you don't lose credibility with some people (not me, but some people do take such things into account).
endergt 3 months ago
there were some mexican on mexican crime in that department. the Mexican's that knew spanish were riping of there own people.
hollywoodjokerpicalo 3 months ago in playlist Uploaded videos
Truth, these banks committed massive fraud.
interstate317 3 months ago
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Obama is the same candy, but just in a brown wrapper.
fauxman 3 months ago
I'm very aware of this. As I've known people that deal in real estate. I have family that deal with real estate. One thing I've heard that if you don't know your homework when buying a home you will be screwed. Think about it. At one point in time you couldn't get a CC unless your income was above a certain level. Now they push CCs on anyone stupid enough to apply. Not to mention flood your mailbox EVEN if you already have one. Especially college kids.
yuukisama2001 3 months ago
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Nothing more than loan sharks. "Just trust me, I'll help you." "It's all good."
Joyness333 3 months ago
Adam Carolla, pound-for-pound asshole, believes those fraudsters are the salt of the earth.
dizzymasekela 3 months ago
Wow what the fuck this is so evil...
dopeboyhero 3 months ago
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Jew & Subprime Mortgages :
1. In 1998, Brooklsey Borne ( white woman ) wanted to regulate the subprime mortgages.
2. She was Chairman of Commodity & Future Trading Commision.
3. 5 Jews fought her.
Jew : - Alan Greenspan, Robert Rubin, Larry Summers, Arthur Levitt, Timothy Geithner
5. In 2008 ( 10 years later ), these subprime mortgages exploded & thousands of Americans were homeless
6. Watch PBS youtube video " The Warning ".
7. Congress testimony included.
Stevie68000 3 months ago
My employer never ceases to amaze me.
s0l1dsnake 3 months ago
Bank Loan Advisors made 7x the commision for a riskier loan, giving them ample reason to take advantage of the uneducated (by proportion) minorities: SCAM! Fraud and Minorities are an easy catch for bankers looking to CASH IN.
electronicoffee 3 months ago
Some of the blame lies on the person signing on the dotted line. First, you should know what you can afford, then, you should know what is going on in the market. Who is getting what rate, it is your job to find that out. So, if you are getting stiffed, you can bring it up, hey, I have a good credit score, why am I not getting the rate as that guy who has the same score as mine. If you jump in blind, then don't be surprised if you get screwed!
nsakic 3 months ago
1. Sweden offers Universal Healthcare and they have a growing economy and are pulling out of this mess faster than us. 2. Swedes prefer that everyone is covered and realize waiting time for some surgeries may be longer......imagine that, Atheist acting more Christian than Evangelical clowns. Evangelical fucks want a certain few to have all the conveniences while the rest watch their kids die of cancer because their insurance called it a "pre-existing" condition.
daguzify 3 months ago 11
@daguzify BUT their taxes are incredibly high. Up to 60% i believe.
xRoyalBloodlinee 3 months ago
FUCK CHASE AND THIER INDIA FAGS
BanditV8racer 3 months ago
@theUSER101 the bailouts are because they are too large to fail, because the repeal of the glass-steagall act in 1999 got rid of valuable regulation that protected the markets. Also being able to gamble on their own losses because of no regulations through credit default swaps and derivatives. Your logic is backwards, the companies lost all their money BEFORE they got bailed out, unless you think regulation caused the companies to lose all of their money and go bankrupt?
rsty614 3 months ago
@rsty614 Excellent comments.
kschumannjr 3 months ago
@kschumannjr Ignorant comments.
theUSER101 3 months ago
@rsty614 Anyone who believes that these banks would have taken the risks they did without government guarantees, knows nothing about business. In some cases these corrupt scumbag bankers were catering to the people they knew wouldn't be able to pay them back, that is not a free market and that is how you run out of business....unless the government guarantees the loans so that you have nothing to lose. Clearly your logic is backwards. Typical of people who know nothing about business.
theUSER101 3 months ago
@theUSER101 I run my own business, and anyone who thinks that there are no risks in business doesn't know what he is talking about; the basic problem of your dogma is that businesses in this case banks take no responsibility for being bad business people, if I make horrible decisions and make bad risks and run out of money and then a friend bails me out, you would say "well you wouldn't have made those mistakes and risks if it wasn't for your friend who gave you the money afterwords"
rsty614 3 months ago
@rsty614 I could easily say the same thing of your dogma. I hate how you people let your dogma cloud up such simple logic. First off, it would be your friend saying he would bail you out, it would be like this.....You friend telling you "in america everyone deserves a house, make it happen and if people happen to no pay back their loans....I will force my family to bail you out." The government forced the people to pay for for their mistakes, not to mention they clearly enabled it.
theUSER101 3 months ago
@theUSER101 over 65 U.S. banks have become insolvent and have been taken over by the FDIC since the beginning of 2008. Combined, these banks held over $55 billion in deposits, and the takeovers cost the federal government an estimated $17 billion.
If your theory is that the bailouts caused the bad business behaviors then why did it happen in 2008 and not 1998 or not 1988 or not 1978?
rsty614 3 months ago
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@rsty614 Continued: The government will keep getting involved in the market and in 4 years we will have another meltdown and again, you people will claim it's the corrupt banks. Bottom line, if you give people a chance to maximize profits without any risk of running out of business, they are going to do it.
theUSER101 3 months ago
@theUSER101 the answer is because before 1999 commercial and investment banking were not allowed to join, do you understand the implications of this? if a commercial bank invests riskily, and the money they are using is coming from clients depositing money, and they lose these risky bets then they must be bailed out. even allowing these banks if you regulated how they bet the money you could have prevented the bailouts
rsty614 3 months ago
@rsty614 This is supposed to be America, there should be no bailouts....EVER...no matter what. With you comments you clearly want more regulation, who do you want to do the regulation? You liberals never answer this question...who do you want to do the regulations. All the politicians do insider trading, they cheat on their taxes etc etc, who cannot be bout? Look at the SEC, look at the FDA...look at these Gov regulation programs....you want more regulation hahahha? why not less power?
theUSER101 3 months ago
@rsty614 Continued: The idea that you think businesses would loan out money to any and potentially run out of business, is insane. You cannot think that my logic is somehow bad. Every company is greedy....if you give them the chance to maximize profit, they are going to do it. The government guaranteed loans, they had nothing to lose. All you do is ask for more regulation, who do you want to regulate? Every government offical is bought and paid for, if not, thats nothing money wont change.
theUSER101 3 months ago
@theUSER101 "every company is greedy...if you give them the chance to maximize profit, they are going to do it" and it is up to the govt. to make sure that doing whatever it takes isn't inherently unfair nor endangering our society, by setting up regulations...
rsty614 3 months ago
@rsty614 Contined: it is up to the government to LET THE MARKET FUNCTION. If someone makes mistakes, they pay....there is no such thing as bailouts. The bailouts no only didn't work like Paul etc have said they wouldn't but we are more in debt and headed towards another disaster, and I'm paying for it. Who do you want to do the regulations? Which corrupt politicians should write the bill?
theUSER101 3 months ago
@theUSER101 you do realize that the banks are paying a lot of money to get the government to cut regulations, doesn't that support what I am saying?
If elected: Elizabeth Warren, Alan Grayson, Russ Finegold
rsty614 3 months ago
Entirely aside from the content of the video, the subtitles were often hilariously inaccurate.
DerMarathDamane 3 months ago in playlist Wall Street Greed
I don't know how they didn't get caught on this sooner because even the authorities are minorities.
frigginjoe 3 months ago
Ridiculous that one of the top comments is saying that this video is some type of racist cruelty and Cenk is some type of irrelevant person. Oh shut up! Seriously, saying Cenk is some type of racist is so stupid on so many levels. People like sturos1 think anyone even talking about another race, no matter what the subject is, is a racist. Example: The Japanese love fish <RACIST The Chinese have an exotic culture<RACIST Mexicans are hard workers<SUPER RACIST Africa has an aids problem<RACIST
HistoriaMexicoful 3 months ago in playlist Wall Street Greed
Greatest scam in the history of the United States! Give Minorities loans you know will blow up because of the interest rates, package em up into securities and sell em around the world, Bet against em, Pocket Billions of dollars when they blow up because you bet against em, hold a gun to the taxpayer head and demand a bailout, Use the 7.7 trillion dollar bailout to make more money, Lay off 8 million workers and dismantle Social Security, Medicare, Medicade in the process. OFF WITH THEIR HEADS!!!
Straightshooter513 3 months ago 34
@Straightshooter513 Bill Maher commented a while back that we should hang the top executives from the stock exchanges - that's a bit bloodthirsty for me but after reading about all the fallout, perhaps he has a point.
R4t10n4L 3 months ago in playlist More videos from TheYoungTurks
@Straightshooter513 That's a pretty complete picture, thanks.
drinfested 3 months ago
Divide and conquer tactics work on us Blacks because they always have since slavery, when they were used most blatantly. Once it ended, it has always been fairly difficult for us to work for each other and progress the group.
There are no consequences for selling out--only at the level of the "snitching" stuff we all hear about when it comes to gangsters.
OF COURSE THE FIRST "ACCEPTABLE NEGRO" PRESIDENT WASN'T GOING TO BRING ANY RESULTS FOR BLACK PEOPLE.
tonylove16 3 months ago
All of the Banks were forced to give home loans to people who could not afford them.... Barney Franks, Chris Dodd and Bill Clintoooooon all Democrats forced the banks to loan the money and causing the collapse.
politicalratfinder 3 months ago
@politicalratfinder George "The Chimp" Bush's words in 2003 before passing the American Dream Downpayment Act which reduced regulations on private banks to allow for predatory lending practices and gave 200 Million a year to the private banks;
"More and more people own a home in America thanks to MY administration"
kschumannjr 3 months ago 4
@politicalratfinder Forced? Did you not just hear what he said? Have you been living under a rock? Where have you been since 2000 if you THINK it was the Democrats? Everything you just said is bullshit.
GeneralKenobiSIYE 3 months ago in playlist Wall Street Greed 2
@politicalratfinder Name the LAW that forced Well Fargo, Leehman Bros, Goldman Sachs,ect to hold 83% of the toxic sub-prime loans (according to the Congressional Budget Office and numerous news sources including FOX!!) when the housing market blew up. You know why you can't? The fed. gov. didn't force ANY of those loans by law. 100% lying bullshit. The best part is Newt Gingrich made 1.6 MILLION LOBBYING FOR FREDDIE & FANNIE according to FOX news as well! LOL
bigge525 3 months ago
@politicalratfinder REPUBLICANS were in charge of the White House, the Senate AND the House of Representatives from 2000-2006, yet Democrats 'forced' banks to loan 'to people who could not afford them'.
HOW? The minority party has almost no power to do anything in the House of Representatives. In the Senate, the minority party's only real power is the filibuster. And Bush could have vetoed any bill he didn't like...
You just might be the stupidest person on the internet.
illphillyresident 3 months ago
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@illphillyresident Typical ignorant liberal idiot..... re-read what I said... it all happend under Bill Clintoon. Google it if you don't believe me... You liberals are too stupid to run government.
politicalratfinder 3 months ago
@politicalratfinder Phil Gramm, Jim Leach, Tom Bliley - all Republicans, forced a bill that allowed partial repeal of Glass Steagal and Gramm was the point man in getting credit defaults swaps exempt from SEC regs and for the creation of the "Enron Loophole".
R4t10n4L 3 months ago
this is absolutely ridiculous. there has NEVER been any instance of financial injustice in the history of the planet earth. i for one will not stand to listen to this trash news.
katsumorymoto 3 months ago
@katsumorymoto If you THINK so, then I suggest your tap water tested for lead as you are obviously an imbecile.
GeneralKenobiSIYE 3 months ago in playlist Wall Street Greed
@GeneralKenobiSIYE if there's this "financial injustice" occurring on the planet, then why is it that there's no financial injustice occurring on the planet? exactly. oh, and i already know what cheap trick you liberals use to answer this question: "that's a loaded question, u cant ask a loaded question in an attempt to validate something, b/c that's the definition of ignorant bigotry". typical ad hominem and strawman and other logical fallacies propagated by the venom of libs
katsumorymoto 3 months ago
@katsumorymoto So forcing people into loans that are impossible to pay off, when they qualify for much better isn't injustice? Pillaging our economy then demanding a bailout that the tax payers are forced to pay isn't injustice? Using money and lobbyists to influence government policy in your favor and against the rights of the people isn't injustice? I'm not a Liberal, I'm a Constitutionalist Patriot. And these banks have gone too far and have destroyed our rights for money.
GeneralKenobiSIYE 3 months ago
@katsumorymoto Oh and you can go suck the corporate cock some more you brain dead moron. If you cannot see the BLATANT raping of our country, liberties, economy, and government, then there is no point in arguing with you as you lack the ability to comprehend the scope of the situation ALL OVER THE WORLD! Go fuck yourself.
GeneralKenobiSIYE 3 months ago
7 people are Paultards still trying to push the fact-less argument the U.S. Gov. FORCED Wells Fargo, Shittibank, Skank of America, Morgan Stanley, ect by law to own 83% of the risky derivative, sub-prime loans they re-sold as AAA rated bullshit that took down the housing market to try to save the reputation of their rigged "free market"
bigge525 3 months ago
7 people don't realize what the dislike button does when you click it.
f1lt3r 3 months ago
Profit is not a motivation for doing good deeds.
dude12nothin 3 months ago 2
I'm getting sick of all these "former" people blowing the whistle after the fact. Did you do anything while you were there, or just stuff your pockets? I am tired of these assholes being complacent in a system they KNOW is immoral and unfair, then only standing up after they have made their money. Sorry, but this guy is just as guilty as Chase Bank and was part of the problem. Blow the whistle when their is still time to help people, you cowards.
Sonnera 3 months ago 3
This is just good business.
HomleandSecurity 3 months ago
Get Job Creator or Die Trying, Bitches
ChuckLonewolf 3 months ago
This is why I love you guys. You always tell the truth, no matter how ugly it is.
Marley4everable 3 months ago
Yeah, that's why I think Democrats has the higher probability to cap the bankers bonuses probably their salary too. Republican probably will let banking system falls and lot of business falls, more unemployment for a while if protest become bigger the rich will not open new business for a while and then chaos or have DPRA.
TzeentchsKnight 3 months ago
WATS WRONG WIT THE SUBTITLES!!!!
kaixdragon 3 months ago
@kaixdragon Cenk mumbles.
naturalmystic33 3 months ago
yo Cenk...just watch the last black friday videos on any Walmart stores......they were killing each other to buy x-boxes...........most of them were latinos and blacks......what do you say now????
Shocksink 3 months ago
@Shocksink What are you trying to say? If youre just trying to prve that youre a racist fuck, then, yeah, id say you did a pretty nice job!
nibblerseven 3 months ago
@Shocksink anyone shopping in black friday = media brainwashed and poor
stupidtrooper501 3 months ago
Now, as a black person, this is the kind of racist cruelty I want to stop in this country. Not some irrelevant person talking crap on a train or radio show.
sturos1 3 months ago 40
I have a theory, Cenk... Barrack Obama + Carlton Banks = Same Person??
cwongchung 3 months ago in playlist Meer video's van TheYoungTurks
@cwongchung wrong, he's Steve Urkel, remember Urkel is from Chicago. *wink*
bakedpootetoo 3 months ago
@bakedpootetoo lol,.. but i do think hes more of a carlton.. rich, into politics and inside he's whiter than Bill Clinton :D
cwongchung 3 months ago
Dear "Job Creators" in New York. Eat a Bullet.
wesscoast 3 months ago 4
i before e except after c (3:05 - 3:13)
mstax 3 months ago
Kinda like a car dealer arranging financing for the purchase of a car.
They will stiff anybody, (regardless of race - sorry Cenk, nothing racial here), for the higher interest rates.
bobbytiger 3 months ago
@bobbytiger Sorry troll, nothing factual in your statement here.
The reports clearly show that a Minority family with an income of $68,000 was 5 TIMES more likely to be pressured into a Predatory Sub-prime Loan when compared to a White family that made the same or LESS in income.
Also the fact that supplied emails show the Administrators and Loan Agents in these Private Banks referred to these Predatory Loans as "Ghetto Loans for the Mud People" shows they had a clear racial motive.
kschumannjr 3 months ago 44
@kschumannjr Yeah, keep trying to educate him...it's been 2 years now and no results =/
aaronpolitical 3 months ago
@bobbytiger really, ghetto loans is non racial?
jopaddy81 3 months ago
@bobbytiger did you even watch the clip?
SlugHatchet 3 months ago in playlist Wall Street Greed
...the bankers that they're not being prosecuted for.
taeonu 3 months ago
A new study showed that over 52% of people with subprime loans would have actually qualified for prime loans. This is just one more fruad by
taeonu 3 months ago
So basically America still has a kind of institutionalized racism. Government and these Financial institutions are in bed together and blacks and hispanics but more so blacks are further marginalized. So are the black panthers going to be resurrected sometime in the future.
Azraelseraphim 3 months ago
Cenk, spare us the feigned anger, OK? I know you're in media, and impression means everything, but your grandstanding is a bit tiresome. You did that when you were a conservative trying to get into right wing radio, and you're doing it now when you're a lib in internet radio broadcasting.
And when you bellow as loud as you do, your echo in the bare floor pop can warehouse that you find yourself in resonates across the entire video.
hofifut 3 months ago
We'll fukk over White America too BUT our bread & butter is screwing over minorities. Yeah, that's raw and altogether not surprising. Shyt, the only folk surprised by this story are non-minorities. This is but another in a long line of historical atrocities visited upon the nation's underclass. Even now someone is secretly thanking God they aren't a minority. As bad as things are for this nation as a whole the sad reality is... it is still considered a worse condition to exist as a minority.
MRrhythmsNflows 3 months ago in playlist Wall Street Greed
The practice was perverse, but to make this into a racial issue is ridiculous. These loans were set up to service people who normally wouldn't be able secure a mortgage. Government backed companies like Fannie Mae guaranteed these loans that never could be paid back. The perverse incentive was thus technically put in place by the government. Bankers knew they were selling shit, but they wouldn't have made the loans in the first place without Fannie Mae. Both government and banks were at fault.
Krifko 3 months ago
@Krifko Sorry, but no one is “making” this into a racial issue. The direction at which the majority of these practices were steered “makes” this a racial issue, not the person(s) bringing light to them. Too many times people assume that just because whites were affected, minorities weren’t targeted. How whites (the majority) are affected isn’t a good litmus test in determining America’s status in regards to justice.
medit84truth 3 months ago in playlist More videos from TheYoungTurks
@Krifko The minority face of the sp lending debacle is not the result of ppl of color desiring such instruments, nor b/c laws required the giving of loans to low-income ppl of color, an argument often made by conservatives that is entirely w/o merit. Lenders that aren’t even covered by fair-lending laws gave out most of the high-cost, risky loans. Loans given out under fair-lending laws (Community Reinvestment Act) tend to perform better & have far lower foreclosure rates.
medit84truth 3 months ago
@Krifko The top-producing loan officers specifically steered blacks who could have qualified for lower-rate loans into the high-cost instruments. Loan officers would often alter credit information of black borrowers on their applications in order to flip the loan from prime to the subprime category.
medit84truth 3 months ago
@Krifko Baltimore NAACP sued Wells Fargo for targeting black communities with subprime loans. Former bank employees admitted in court affidavits that loan officers regularly referred to black customers as “mud people”, and called the loans sold to them “ghetto loans,” and offered financial bonuses to loan officers who successfully pushed subprime loans in minority neighborhoods. But to "make" this into a racial issue is ridiculous, right?
medit84truth 3 months ago
@Krifko Up to half of the sp loans given out went to persons that could have (and should have) qualified for lower rates. In NYC black households w/ annual incomes of $68,000 or more were 5 times more likely to have a sp mortgage than white households w/ similar or LESS income. Warnings about sp lending & it’s consequences for ppl of color had been sounding for years, w/ little attention paid to minorities that were loosing their homes at high rates, until the impacts began to affect white ppl.
medit84truth 3 months ago
@Krifko By 2006 blacks and Latinos were 2.5 to 3 times more likely to be subprime than mortgages sold to whites. Disparities sometimes reflect factors of creditworthiness and collateral, but the numbers indicate that persons of color are more likely to be steered to a subprime loan at higher cost than are whites with the same income and credit scores. A study in 2006 found that even high-income black and Latino borrowers were more likely than low-income whites to wind up with a high-cost loan.
medit84truth 3 months ago
Blacks have always been on a losing end in America`s history :D Nothing new over here.
wabdinur 3 months ago
@wabdinur Please , Gays are on the bigest losing end, blacks have 100% equal rigths gays have 1400 less
Clemburke1111 3 months ago
@Clemburke1111 Gay is the new black now..
oprichniki12 3 months ago
BAN OTC DERIVATIVES!!!
loveofphysics 3 months ago in playlist More videos from TheYoungTurks
@loveofphysics Hell yeah man. Ban these toxic derivatives now!!!
merchan5967 3 months ago
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2L84PRAYN 3 months ago
Anyone listen to Adam Carolla's rant about OWS? And Stern has been finding people at OWS to pick apart ... so it's not just Fox News ... talk about an uphill battle.
beornborg1 3 months ago
you think this would make them for illegal immigrants instead of against
spaik007 3 months ago in playlist Fler videoklipp från TheYoungTurks
How dare Chase put people in handcuffs, point a gun at them, drug them and then put the pen in the hands of these minorities to sign for these loans.
By the way, Cenk, if somebody who lives within 10 miles of a public library is "uneducated," he or she has nobody to blame but himself. I learned Spanish (and several other languages) FLUENTLY by using the library and the internet. Why the hell can't these people do the same thing when they live in an ENGLISH SPEAKING COUNTRY?!
Ant1Live 3 months ago
all the guys in banking losing their jobs....more and more will come forward to rat out their old employers.
LANDSHARK7130 3 months ago
@payasoinfeliz Yup. Its a parental responsibility to make sure there children don't buy porn and smoke cigs, not a government responsibility. Why should my money be spent on regulating that if I have well behaved kids? Oh hell no. And if those kids become a bad influence on my kids lets say at school, ok. Lawsuit.
TechHelpReformed 3 months ago
Clearly the bankers were wrong but the borrower also shares responsiblity here. I am black with great credit but was still offered an interest only loan which I found insulting so I declined and found another mortgage broker who offered a 30yr, fixed mortgage. Borrowers have the responsibility of educating themselves so as not to become victims.
annettecls 3 months ago
Also, I didn't get screwed out of these loans, why is my tax money being spent on the suckers who didn't read the text?
TechHelpReformed 3 months ago in playlist More videos from TheYoungTurks
@TechHelpReformed yeah, and why is my tax money going to police and fire trucks when i have never needed them in my life. i dont even own a car, but i pay for roads. wtf! what is this thing called society i find myself in? everyone but me should move out of the usa so i can enjoy the land i am on without these encumbrances.
payasoinfeliz 3 months ago
@payasoinfeliz Well, the constitution states we must provide a common defense. So like the military and police. But yeah i do agree with fire trucks, you should pay for your own security service for fires, maybe like ADT if only it had its own fire service and didnt have to call local authorities. And there is this something called property rights, so unless you bought the whole USA, you can't be the only person living there.
TechHelpReformed 3 months ago in playlist More videos from TheYoungTurks
@TechHelpReformed constitution allowed for slavery too. we shouldnt be obligated to contribute anything to the country just because we live in it.
payasoinfeliz 3 months ago
5:17 Cenk says he believes in equality for everybody.
So why the fuck is it right to tax one group of people more than another group of people? How is that equality? Also, I a agree with @jeffxl12 . If you can't read the damn text, then you deserve to get screwed. Pay your 250 an hour for an attorney to look over the loan if you really cant understand it. And I also don't understand why i cant be racist towards blacks and latinos when its so true that they cause crime, poor, welfare abusers etc
TechHelpReformed 3 months ago in playlist More videos from TheYoungTurks
@TechHelpReformed let children buy porn and smoke cigs. equal.
payasoinfeliz 3 months ago
@TechHelpReformed speking of taxes i just want to point out something, you always hear the bs about the rich paying high taxes but u know who really gets shafted?, single people that make 40k and up & have no dependents.,
qwezzie 3 months ago
@qwezzie hey I am actually FOR equality. No one should pay more taxes than another, no matter what the situation is. Everybody should pay the same amount, (I think) or a flat tax where everybody gives 10 or 15% and the government HAS to survive on that. But what does that mean? It means no entitlements, no regulations, so shit like what the other fellow said about children buying porn and cigs, thats a parental responsibility. The government will not regulate and use somebody else's tax money.
TechHelpReformed 3 months ago
I partially blame Blacks and Latinos because they know BANKS historically have given them loans at a higher rate than whites. Go to the library do research on loans, contact a financial advisor, contact a local university and speak to for help regarding loans, etc.,
vaurnj39 3 months ago
Why are these people not in jail!!
rfd177 3 months ago in playlist Wall Street Greed
Keep saying it as it is Cenk....because the mainstream media is mute (or bought off) in telling us what is really going on here.....whilst we as the 99%, are continually being scammed.
polkarde 3 months ago 68
Different puppets with the same puppeteers
Shredderof7Seas 3 months ago in playlist More videos from TheYoungTurks 24
WHy were subprime lonas paying higher commissions? The answer is that the system wanted loans that would fail and payed a premium for bad loans. You want something you pay more for it.
klard 3 months ago
This has been flagged as spam show
But Cenk racism is dead?
Every republicans says it so it's got to be true!
duleekrauser 3 months ago
Comment removed
duleekrauser 3 months ago
fuck the rich!!
wetdream09 3 months ago in playlist More videos from TheYoungTurks
Reverse Robin Hood - Evil geniuses
enigma1990 3 months ago
Cenk seems to remember Obama is black, but he somehow forgets who raised him.Obama was raised by WHITE PEOPLE and he attended an elite WHITE school called Harvard. Obama was hand picked by the Neocons aka NWO and attended Bilderberg in 2007 along with Hilary Clinton. Why Cenk is so shocked Obama has no sensitivity of the black struggle when Obama himself is a WHITE man that just so happens to have a black father who was nothing more than a sperm donor. Jeez Cenk, epic fail on your part.
shadowedge69 3 months ago
@shadowedge69 He does seem to forget that Obama was raised by a conservative christian. I'm surprised the woman didn't disown her daughter and Obama. Seems like she wasn't a completely inhumane person.
DaBamBamMan 3 months ago
bank execs should all be shot.......in the knee caps.....and their eyes poked out...
aznsketcher 3 months ago
there's too much echo in these new videos....I liked the previous set, because it sounded closer, and more personal.
Qackool 3 months ago
last time i checked this was called a confidence game or simply a con AKA Fraud!
emerice 3 months ago in playlist Wall Street Greed
2:32 : Did Cenk just say PEOPLE like Chase? Isn't that what you are fighting against with Wolf PAC? xDDD
lorddarth1 3 months ago
Hopes in USA: Down the crapper.
Jh5kRadio 3 months ago
Is it sad where I hear this and I'm just thinking that it's old news? That we've known this all for years?
And yet, it's still important to hear that the rich aren't rich because of hard worker, or because they were smart or invented important products, it's because they abused the system and took people for suckers.
Capitalism can't work forever with this greed, and we're seeing it collapse. We've gotta fix it, it's still better than outright socialism, but we may need socialism to help.
dEdGrimley 3 months ago