The Housing Disaster was Created by Government.

[oxjhan9]

youre forgetting that economic growth means prices hikes on houses, people dont even live old enough to pay a house off as it is,l while youre enslaved a life time paying it and it gets paid when youre due to kick the bucket, makes life insignificant and pointless

[farmboycarl]

You should change the title of your video to, "I Know the Government Is Complicit In the Housing Meltdown, But I Don't Really Know Why".

The commodity bust of the 70's lead to the stealing of farmland where Wall Street financed and built 25 Million unneeded new homes (diluting the housing stock) before they put housing prices on steroids with irresistible finacing. You didn't even mention $55 Trillion in Credit Default Swaps, and the FED's 17 rate hikes in '05-'06 that tripped the switch

[UcanbeGOD]

This swinging dick almost got a loan but decided to play it safe and live within my means.

[timetraveler3797]

Your economic sense saved not only you but my ass as well since now you are one less person that get's bailed out with my tax dollars. :-)

[UcanbeGOD]

lol glad I could help.

[DIRTYRIDDING]

SWEET GOOD IDEA

SEE MARY CROFT, right up your alley

cheers,no home no tax,iam kool

i did not buy the lie,KOOL

[rogerandgunner]

you need to look up fractional reserve banking in order to understand why we have the bubble.

[jscottupton]

@rogerandgunner fractional reserve banking is not the cause of the housing, or any other particular bubble...but it is certainly a part of the overall FED problem.

[Klackityklack]

What this video is missing is that "we are all subprime". The housing bubble was not created solely by subprime loans. It was created by giving out "prime" loans to people who couldn't afford them. Zero interest loans. ARMs. Option ARMs. Negative amortization loans. These shady loans were marketed widely: to subprime and prime customers.

This doesn't count liar loans, where banks didn't even bother to verify the income of people applying for loans. Banks stopped doing due diligence.

[rjg82070]

You're absolutely correct. Banks did this because they knew they could dump off their bad loans to Fannie who could get more capital at a lower cost (read: lower interest rate via the Fed) thus reducing the amount of loans in the bundle that needed to pay.

[bossman068410]

Your missing the whole story buddy.

[rockandrock44]

Very good points. 5/5.

[lukeev]

Brilliant.

[rocksiphone]

and which J.P. Morgan & Bank of America owns the Private Corporation called the Federal Reserve which is no more Federal Than...Federal Express

[FlowCell]

Their isn't much difference between the Federal Government and The Mob. In fact, what difference is their other then scope and invasive.

The biggest argument the Feds has against the Mob is how much money it takes out of the economy through it's schemes. Hello! Isn't that what the Federal Government does?

Like you said, the only reason why so many people think it's OK for the Feds to steal our money is because they've been educated by Fed approved schools.

[McDicker96]

it sucks how the public will rip into each other as much as possible but never the elite in any meaningfull way.

like the soldiers in war who are never allowed to kill the officers only the other soldiers who are shot if they try to leave, oh well.

[j0hnwi11iams]

As usual the market fundamentalists are only looking at the bodies that prove their foregone theories. Fannie Mae and Freddie Mac are only allowed to buy conforming loans, which by definition are NOT subprime. The private market for insurance was HUGE in comparison and consisted of unregulated credit default swaps. How do you expect people to take you seriously when you MISINFORM on a massive scale?

[hrosemd]

I get a kick out of all the endless jawboning going on regarding the $700 Billion "Rescue" bill, when this week alone the FED has created and pumped $409 Billion dollars into banks through the discount window. And the week's not even over yet. You just can't make this shit up.

Great vid. You've got your head on straight my friend.

[aaron0883]

Great video.