The Mortgage Crisis Truth

[MrClockwork2007]

Fuck the government because all mortgage contracts are null and void and forgery just for the simple fact the currency in this country called the U.S.A is counterfeit and forgery because it is not real money just monopoly money which I would call high treason against all the black kings and queens in America which is suppose to be a FREE country a free government so really u can never buy a house its just slavery at its best fuck the new world order and all white crackers!!!

[boxerguy1982]

I wonder why the left Jew Media and MSNBC never talks about the relationship the Dems have with Fannie and Fraddie? They wanted poor, white trash and ghetto idiots in homes they could not afford, well, you got it. Wall Street came after the fact. Most liberals who voted for Obama never even graduated High School so they don't know what is going on. This is what happens when you push your "social equality" bull shit you liberal pussies.

[johnnydeant]

And we have to add that all the people who bought a house, took a loan, or anything else that they knew they couldn't afford are just as much at fault. There's blame to go around for many people of all parties, beliefs, and so on. We need to stop pointing the finger and come together to learn from the experience, and make sure our kids will never make the same mistake by teaching them, not by regulating, taxing, mandating, and scrutinizing them to death with this new financial reform bill.

[Gregorypeckory]

@readwhatisee "Democrats are responsible?" You never heard of the two waves of Reagan, then Bush deregulation, did you? Nor the decades of cheerleading for deregulation from virtually every republican in any office. You're a complete idiot. I cracked up the day I heard Rush refer to "Obama's recession"-before Obama's inauguration. Clearly, you're his target audience-people for whom, ideology reigns supreme, and facts are irrelevant.

[johnnydeant]

@Gregorypeckory Listen, I know you are too stupid to do any reading for yourself, but I'll encourage you to try. Bush did try to increase regulations over the financial sector. The democrats did fight him every time. You would only have to spend a little time looking into it for yourself. It won't be too hard, but if your little brain starts hurting take some aspirin and rest for a little bit. Then try again you ignorant son of a dog. I blame both parties, but I know you are too stupid

[johnnydeant]

@Gregorypeckory I know you're slow, but I said both parties were responsible. If you are going to say something at least get what I said right.

[OlivierdeAthos]

Since you patched together this video, maybe you can explain how Chris Dodd "blocked" legislation to regulate the housing GSEs in 2005?

Also, although you're not responsible for Fox News, maybe you can also explain what legislation was "blocked" in 2003, as the video tries to suggest in the first two minutes?

[johnnydeant]

@OlivierdeAthos. The dems took control of the house and senate in the election of 2005; however to answer your question, have you ever heard of a filibuster? While, I'm at it, have you ever heard of the Community Reinvestment Act of 1978? Both sides had their hands in all of this, and neither party is innocent; however Bush did try to reign in the financial sector. I don't like Bush on alot of things but I do like the truth, and the truth is that people from both parties are at fault.

[OlivierdeAthos]

@johnnydeant

Not quite. The Dems won the election in Nov 2006, and thus took control of the House in Jan 2007. I know what a filibuster is, but they don't specify which bill. HR1461 passed in the House in 2005 but the Senate Banking committee never voted on it. S190 passed in the Senate Banking Committee, but was never put on the agenda for a floor vote. It wasn't filibustered.

Bush, to his credit, refused to appoint members to the boards of Fannie and Freddie.

[johnnydeant]

@OlivierdeAthos If you actually check the record you will see that a filibuster was threatened by Dodd and company. They either filibustered or threatened that they filibuster all 17 bills that were brought up. Some never made it to the floor because of this. I'm not saying that republicans are innocent in this, far from it. I'm saying that they are both responsible, and that we all need to come together to make sure our children never go through this again, and was showing that Bush did try

[OlivierdeAthos]

@johnnydeant

Both parties are definitely to blame for the housing crisis, I'm just trying to deflate a particular talking point here. I've never seen any evidence that there was a filibuster or threat to filibuster S190-109th except Op/Ed pieces that were written by Rove after the fact. Can you cite a news source that mentions a threat to filibuster at the time? (As I said, Bush deserves credit for refusing to appoint board members to Fannie and Freddie. First president to do that.)

[johnnydeant]

@OlivierdeAthos I didn't patch this video together, try more lies. All you have to do is look up the proposals that were made and mentioned in the videos. Do your own research, I have. Not only on the video, but I actually looked up all the references made in the video to make sure for myself. You can do that too. It won't take too much of an effort.

[OlivierdeAthos]

@johnnydeant

"Do your own research, I have."

The standard line from a guy with no source to back up his claim. If you've done your research then you can easily provide me with a link to a 2005 or 2006 article mentioning Dodd's threat to filibuster S.190. It's easy. Look, here's Rove's revisionist Op/Ed from 2009:

online. wsj. com/article/SB1231372205505625­85. html

You just have to add a space after each period. Now link me to a source from 2005/6 showing evidence of Dodd's threat.

[OlivierdeAthos]

@johnnydeant

S.190 passed the Senate Banking Committee on July 28 2005 but was never sent to the floor for a vote. By May 2006 it still hadn't been sent for a vote, so Hagel (sponsor) and 25 other Republicans sent a letter to Frist urging he send it for a vote. Note A) he doesn't mention filibustering as the reason for the delay, and B) he doesn't mention McCain as a co-sponsor because he didn't join until later.

durbin. senate. gov/showRelease. cfm?releaseId=255441

[ciro9]

Seamlady: I agree with you 100% but unfortunately we cannot change the U.S. Constitution and we have no other choice but to work within that frame-work but we (as I do) demand transparency and hold those elected officials accountable for how they vote on an issue. I must say that Iam very disappointed by President Barak Obama. He has turned out to be a puppet for Wall Street & the Bank's.

[ciro9]

We The People (through the electionprocess) should have equal seats and voting power on the Federal Reserve Board. The FED care's only of bailing out the CEO's of Wall Street & the Bank's.Not the familie's that are losing their homes to foreclosure.Enough of bailing out Wall Street & the banks with our money from the FED and we have no say in it. It's time we deep-six the FED for the sake of the working class people of our nation.

[Seamlady]

You are not just paying to bail out companies but you are paying for politicians to get their share of the stock. The politician don't give a damn about citizens but the money in their back pocket. They are thieves and the truth is not in them.

[BeyondTheSpectrum08]

I just saw on the Today Show how Fannie Mae/Freddie Mac spend millions of dollars on both Democrat and Republican Congressmen in order to get favorable legislation in the last 2 years leading up to this crisis. This fact kills the conservative idea that regulation is what caused this crisis...an industry doesn't spend millions to be regulated.

beyond-the-political-spectrum.­blogspot(dot)com/

[MisterNutrition]

absolute truth, if one simply follow the money one can find the truth, it is clearly the republicans fault, especially if you consider the huge donations to bush's campaign by these outfits, and oh yeah MBNA, sound familiar?

[BeyondTheSpectrum08]

I just uploaded another video on this subject. Check it out.

[Seamlady]

My suggestion is to vote them out. BOTH parties that have run and are in office now.

If we don't vote them out by the truck loads the offices will remain currupt. It is like a bad apple. It only takes one to spoil the barrell.

[Seamlady]

@Seamlady You are so right. We do need to vote them all out.

[Turtlehands]

The Bush administration has done very little if anything in terms of trying to keep markets at an even keel.

These loans were bought by Wall street because they were SUPPOSED to fail. The result of the failed mortgage would still be a profit to the Wall street buyer because real estate prices were skyrocketing.

Once the prices hit the ceiling and fell, this get rich quick scheme failed.

How small was the print where it said loan payments would go up?

Don't blame the sap who just wanted a house?

[Seamlady]

I blame anyone who signs any contract without reading the entire contract. You've hear the old saying of measure twice and cut once. Well you read it three times and sign only once. When anyone is signing their life away they should get out the magnifying glass and get in the sunlight. Yes you are stupid if you signed without reading.

[Gregorypeckory]

@Seamlady Then you blame virtually home buyer in the nation-nobody would ever buy a house if they had to read-much less understand all the reams mind numbing legalese verbage tossed at them. if people started reading all contracts, business would come to a screeching halt-nobody would so much as open a simple savings account.

[Seamlady]

@Gregorypeckory We did buy a house and yes we took two days to read the thing and yest we did consult a lawyer for things we did not understand. So anyone is stupid enough to go into a contract and not read it then they suffer everytime. No business would not come to a screeching hault but you may have seen the things written more simply so the buyer could understand.

[ourearthhome]

Correct. CRA and GSEs now can be seen as failed attempts to increase home ownership as part of the larger intent to figure out a way to include all people in the benefits of overall economic progress. Democrats have the heart to do it but have no clue how. Republicans naively think it might trickle down from the top and are correct in saying Demos are making things worse. Ironically there is a way that native people understood. It starts with not allowing land to be bought and sold for profit.

[raproducer]

Guess who the housing/financial bailout helps?

HOLLYWOOD!

Section 502 allows $15 million to film and TV producers EACH in tax relief.

Think of THAT if you lose your home.

The Senate expanded the bill 3 pages to 450 pages of PORK.

Hollywood refused labor demands this winter, yet will gladly take USAs last dollars?

1) ALL major networks REPORT on this atrocity

2) Boycott films that take this $

(observation of a Hollywood producer)

[michaelbuddy]

Who is McCaine?

These are great video clips, however you forgot the pressure put on by the Federal Reserve, keeping rates artificially low by interfering, and then international banks were getting into the real estate market because it's where they could make real money money. Listen to NPR, This American Life about the subject. It's a better picture about this. This is too contained, not showing the entire thing.

McCain is for this bailout. Are you forgetting that? This prob goes back to 1930s

[dyamarick]

No, it goes back to Jimmy Carter, the one who is currently blaming Pres Bush.