Here's an idea by Professor Steve Kean of 'Debunking economics': Instead of bailing out banks or doing QE that will give the banks more money to horde why not the President announce a private household 'debt jubilee'? UnAmerican? Andrew Jackson did a version of it no?
Fannie & Freddie is the best (selfish) idea Wall St. every thought of. They can make huge profits thanks to them playing the sucker, all the while people on TV can claim it's their fault, as if Wall St. don't love those firms so much they'd marry them.
Thank goodness, mortgage bundling and speculation no longer exist.
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NOT!!! My wife and I closed on our house in 02/2010. We made exactly one payment to the outfit that wrote our mortgage before it was "bundled" and sold to Chase. We are now seeking alternate financing. I do not want to do business with Chase, BOA, or any other criminal organization.
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Don't wait for the government to fix it. Fire your bank - today, and tell them why they lost your business. They WILL change, I promise.
great idea Cenk! Let's get the OWS crowd to occupy Bill Clinton's/Barney Frank's space for it was those two fine liberals that in 1997 appointed Franlin Raines CEO of Fannie Mae and mandated that banks be forced to comply with CRA and further to encourage as many people as possible to buy homes.
If banks refused F/F wouldn't buy any mortgages, hurt liquidity so banks wrote bad stuff and even bought subprimes from others just to have a market.
@genie0390 - Well, genie, as usual, you've gotten your three brain cells short-circuited. CRA primary loans performed within 2% of non-CRA loans. Read the CRA - nothing in the CRA legislation requires writing high-risk loans. But funny that you want to blame Clinton. In 1977, the year that CRA was enacted, my history books assure me that a Republican president, Gerald Ford was in office. But, hey, what's a little revisionist history among conservative butt-buddies, right?
@genie0390 - yep, Genie-baby, again you evade the topic and resort to personal attacks. I guess when that's the only leg you've got left to stand on, you just have to keep hopping around on it. Care to enlighten us as to when the Community Reinvestment Act ACTUALLY passed? And who, in your bizarro universe was President at the time? Just curious to see how far you'll drop your shorts to defend your misconceptions.
@genie0390 - there's nothing more galling than having to agree with you. I had it fixed in my head that Ford's term lasted til '77 - which is technically correct. But only for a few weeks. So we can, in fact, just as you say, attribute the CRA to the Carter administration. Now - if you can point out where the CRA requires bad mortgages to be written, your triumph will be complete.
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Now, if you'll excuse me for a bit, after having to type a retraction to Genie, I need to go dip my hands in acid.
you have to be OK kind of guy to admit you were wrong
as to CRA, it was passed to stop banks redlining poor communities, put as many poor people into homes as possible. Only way to do that is loosen lending rules and/or come up with innovative mortgages. Banks did both. Actually to fully understand Government's involvement you have to look at so called enhanced CRA where Clinton/Barney Frank mandated Fannie Mae, set out all sorts of rules
CLINTON ORDERED FM AND FM TO ABSORB THE SUB-PRIME MORTGAGES.
This ENTIRE collapse stems from Clinton, the Democrats, and the liberals pressing FM/FM and the banks to make sub-prime loans. You subtract Clinton and the sub-primes from history and NONE of this collapse happens.
People like TYT SUPPORTED forcing these loans on banks and supported loans to people who couldn't pay them back.
facts run off TYT and their progressive brain dead viewers like water off the proverbial goose!
TYT are not the only ones that supported forcing banks to make these loans but it was Senator Obowma that in fact threatened a filibuster to stop Bush's regulating the GSEs, now this hypocrite claims it was Bush that drove the economy into the ditch.
Where are the Wallstreet whistleblowers? I'd love to hear a frank first hand account of all the shit that these crooks are actually doing - Ive had it up to here with these corporate mouthpiece journalists and reporters, there has to be at least one banker in wall street who has conscience
@thegillotine09 Bank loans property, say at 100k, to someone who's underwater, then sells that loan off, using a BIG FAT LIE saying the homeowners make enough money to pay it to another bank, at a profit. The bank officer sees (on paper) that the loan is good and signs off on it, and then gets stuck with a toxic loan. They then do the EXACT SAME THING, but selling it at a profit to a Government backed bank (i.e. Freddie Mac, Fannie Mae.)
It's more complex than that, but that's the general idea.
@thegillotine09 Corporations are designed to make a profit, and don't have any honor. The board saw that they make more by selling both toxic and non-toxic loans than they ever could by being reputable, and cleaned up, at the people's expense.
If all the banks hold the same reputation for selling toxic loans, who do you trust? Even if a new bank came along which was honorable, would anyone trust them, at this point?
@thegillotine09 Me? Trust politicians?!? Are you kidding me???
Oh wait. You mean people trust politicians, not me specifically. You know, you have a point there. So say that reputable bank started generating a following. The BIG BANKS have such a loud voice in the media these days that they'd simply discredit that bank, and everyone would believe it 'cause they blindly believe what's told to them on the TV, no matter how insane....
You wanna move houses? Forgive student loans! I'd buy a house next month if I didn't have student loans. Pay more in rent now than I could be paying a cheap mortgage, but I don't qualify.
Capitalism isn't the problem, deregulation/lack of oversight is the problem. Asking corporations to regulate themselves is like setting a full cookie jar in front of a toddler and telling her she can't have the cookies, then you walk away. When you come back, the cookies are all gone; if you want a taste, you have to gather up the crumbs. Oh, and the toddler is now puking all over the place, which you have to clean up.
I think what a lot of people fail to realize is that the banks are NOT the only ones at fault. Fanny Mae and Freddy Mac are also to blame. The government is also to blame. They are the ones who ALLOWED this sort of thing to happen. They are the ones who caused the bubble in the first place. So OF COURSE the privately owned banks will take advantage of it and invest in the housing to make money and cause the bubble to burst.
My friend works for Wells Fargo and he told me most of the people there do shady shit to make commissions... setting up accounts for people that they never wanted just to make bonuses. Its small scale stuff and unrelated to mortgages but he said its common and it goes to show how crooked they are.
This is why all media like Msnbc and Fox are still trying to be in there fantasy world of 2008 and thinking the less they talk about Ron Paul the better. Ron knew all this was coming back in 2006. Lets just say, Ron has the left and right where he wants them. The left made a bad choice of leaving us Libertarians hang against Bush and the wars to hide behind Obama. This is where we are going to go after Obama at. " Obama was more worried about healthcare instead of doing what he promised"
But isnt that just the way American society is, and people think about US society should work.
Banks make money so they are winners who should be protected at any cost, and the people who are in trouble with their mortages are losers who should go bankrupt and homeless ?
Ron Paul was talking about the housing bubble and banksters in 2005/2006 before it happened. The free market economists understand that the fed is the source of the cheap money. What we need to do is end the fed and then see if the banks stop taking hidden risks not. The government needs to get out of the way and let the free market crush these losers. I agree if we have to bailout someone it should be the people and not the banksters.
People need to stop accepting settlements like this, and take these bitches down in court. I'm getting sick of companies clearing themselves with the wave of a hand.
The banks were deregulated over a couple of decades ago and its been a disaster ever since. So what do we do --- give them over a trillion dollars more. What kind of capitalism is that? We need a direct lending agency operated by and for homeowners and small businesses, whose foundation and power will rest with local government. Fannie Mae and Freddie Mac are through -- they've become clearing houses for fraud.
I think true libertarians and liberals are accurately pointing out the problem. The difference is how either side wants to fix it. Cenk's outrage is completely justified. I say this as his political opposite. When you mix government enterprises and big private corporations, this is what you will always eventually get: cronyism. Occupy Wall Street should be crying out to end the FED and end all this pseudo public/private centralized banking bullshit!
@hallavast OWS IS about that and all the changes the people want. It's ALL OVER THE WORLD and growing everyday. It's information like this that must be spread to all your family, friends and neighbors. People must have information so they KNOW what's going ON!
names of corrupt corporations and what they did is a good idea. can you please make a webpage that has the corrupt corporations and what they have been up too? it would also be nice if you could put any businesses they own. i for one would like to start voting with my wallet and avoiding giving these corporations my business. i know that this is starting to become a popular idea on the internet. if we all just stop giving them business we can just let the sink away and disappear!
@CBGartner91 shhh only the teabaggers can cry revolution, any other revolutions is a communist nazi kgb scheme created by hitler , and the teabaggers and their bankster owners cant have that
@RealityGrapple - Are you a fucking idiot? I mean at what level does your retarded nature stop? I said Deal with it. It wasn't a defence, idiot boy. A very slight base in reality might of shown you that. Deal with it!
It's funny how nobody talks about Obama suing the banks for not making out mortgages to low income people in the 90's. Or that Barney Frank (D) was the one who forced these banks to make the toxic loans, Cenk keeps going off on.
US Veteran-comes home from war. "Hey man, i just spent two years in a desert, saw my best buddy get his head blown off and nearly got blown up by an IED, you think you can maybe help me out with some of my money issues?"
Republican: YOU FILTHY PARASITIC MOTHER FUCKER! TRYING TO STEAL FROM THE PRODUCTIVE CLASS OF THE GREATEST COUNTRY EVVVERRRR. HOW DARE YOU! NOTHING IS FREE IN AMERICA! THAT'S WHY WE'RE THE BESSSSTTT B/C NO ONE DESERVES MERCY FOR ANYTHING!!!....except my good buddies the banks..
@OndskapensHersker I agree with your statement except for one part: "all". Govt. should offer education (public service), but so should private institutions if they wish to. They might do a remarkable job at it (Harvard). Govt. should have public hospitals, but there should be private hospitals as well. Imagine the mall without private mall cops. Not as fun a place.
@OndskapensHersker Govt. could offer electric, water, and phone services, but there should also be private corps that offer the same system. They do that in Puerto Rico (a US territory) and it mostly works lovely (except when the govt. overcharges and they have to be called out). More importantly, govt. should control the Mint and the main central bank, but the rest of the banks should be private and credit unions in order to avoid manipulation and stuff like that (like China).
i love cenk and the young turks but i worry about cenk's blood pressure... love the passion but its got to be getting to him...... fucked up governemnt
When Countrywide purchased my first mortgage (which I had done a 3/1 buydown on), they tried to make me pay the higher third year mortgage. I had to PROVE to them that I paid that extra money up front. I wonder how many people they actually defrauded this way.... I am lucky, I read my bills and have a good grasp of english. I often wonder... if this was an old person, they would have been screwed!!
With the $1 trillion that we gave banks, the government could have created its own non-profit credit union that would benefit everybody because it doesn't overcharge. But no.... that would be communism...
@TrickyEmu The government can ask for that money back. That's taxpayer money, if these corps are not going to create jobs, then give it back. That money can be used for something else.
DOZENS of people have been arrested over the last couple days for trying to close their bank accounts! This is a fascist police state in need of another civil war!
@bamboo4tameshigiri Good point, just reminding me who voted for this horrible plan. Although it should be noted other republican running against obama also voted for it. But you are right, the democrats kind of did vote this onto society.
Yo cenk bust them up man. U should just have one show that talks about all the messed up thing that wall street, the banks, and business's like goldmensacks have done. Please
@RealityGrapple - Deal with it. There are many many more people like me in the world than there are actual Americans. Whilst you might seek to dismiss my sentiment as "bigotry" and therefore wrong, it still doesn't change the fact that a great many people despise your country. Now you can either man up to that fact or you can whine like a little bitch on youtube. I despise your country for a great many valid reasons. If you aren't intelligent enough to admit those reasons then it's your problem.
@RealityGrapple ZM puts a good handful of lies into a generalized format. In fact they take good ideas and ruin them with lies. Debt IS in our system, and there is nothing we can do to remove it or "fix" it other than completely removing the system in total. There are too many people who have accumulated power on the debt system, and they will not let go of it willingly. They will pit us against each other, depending on our greed to keep them in power.
@RealityGrapple "Which is the main reason I'm pulling for you to be hit, mangled, dragged and killed by a bus." - Like i said. More false hopes. You are welcome to them. One of you likes to guess a whole load of things that are false about someone else (without having any real grounds to do so) and the other (you) likes to wish for things that aren't likely to happen. Good luck the pair of you with all of that. You do kind of feed into that false stereotype that all Americans are stupid.
The funniest part is that while there are so many claims of being financially underwater, there are still million to billion dollar projects invested for kicks. Gratuitously expensive homes, transportation, luxury devices, entertainment, etc.
And there's not anything anyone can do about it. No one with the power nor the resource wants to cut back.
dorks like you, with no education, experience to know that the CRA and the liberal push for families to own homes created the frenzy, set the stage for ALL bad lending. You know nothing about business dynamics and how social agendas foisted unto businesses often has unexpected results.
you also don't know that the buck must always stop with Government as they are the ultimate power to change practices
SEC is full of useless pricks, didn't catch Madoff
@genie0390 If the CRA was such a bad scheme, then it would have collapsed within the first generation of mortgages, but two or three generations of mortgages went through the system before things even STARTED to go wrong. Most of the mortgages that went foul were not even subject to the CRA, and the CRA loans only went foul because the other subprime loans had caused a real estate bubble.
@RealityGrapple Total newb? I have an MSc in Economics. I can tell you that most 'alternative' currency systems are not plausible and just because economists like to theorise and post it onto websites, that doesn't mean that they are viable solutions.
I have the same degree in Applied Economics, have 2 prof designations, been VP and then CEO, own my business, have loads of experience in oil, banking, real estate dev and I'm unable to get through to most.
the problem we face is not rich bankers, the traditional scapegoats. fact is over last several decades we have built such a liberal, organized society and economy that we simply cannot compete with Asian Countries. we are transitioning to knowledge based economy
@genie0390 It would be hard to agree that banks are not at least part of the problem. The whole economical situation in the U.S and UK was the fault of the banks directly and the governments failure to not regulate them.
I myself am a staunch capitalist and fiscal conservative but I'm a social liberal. I have a feeling that you are going to advocate the 'free market' theory and also assume that you are American. Would that be correct?
@RealityGrapple "I have a couple of chronic medicala conditions that make every minute of my life painful" - See, stop for a moment and think what you have just done here on youtube. I for one support America and Americans to fashion a nation that is worthwhile, rather than cast an entire nation aside as worthless. However assholes like you come along and wish painful deaths on someone like that, simply because he despises a country that treats it's people (you) like they do. Hardly intelligent.
@RealityGrapple - "See, that's why you're a dick" - Oh do pardon me. Wasn't you the one that wished a horrible painful death on another human being? And you honestly expect a nice reply from that? I despise America for it's politics, the way it proclaims one thing and does another. How it's people suffer needlessly at the hands of it's bankers and politicians. I despise it for it's poor education, it's crippling of children with religion and falsehoods. You took no time to establish that. Idiot.
@RealityGrapple - Nice try. I am NOT ZM. Zeitgheist is wrong in many ways. The property of capitalism (money) is that there be winners and losers. there will be always debt in a capitalist society. That is oppressive.
@RealityGrapple We have tried the systems that evolved through time. The Gold Specie, Bullion standards, silver and other precious metal standards, systems that are pinned to other currencies that our on precious metal standards. What other methods are there?
The economy and treatment of cancer are entirely different things and parallels cannot be drawn. You seem to be lacking the basic understanding of finance to be having a serious debate with you.
This is what happens when government gets in bed with banks and corporations, a kingdom is destroyed.
The wallstreet protests are a decade late but I do think this movement will only grow and eventually the government will have to react, and it's that reaction and the reactions to that, that will decide our fate. If our government fails to correct itself, or we fail to correct it before a certain unknown point, we could be at or past that point, it's total collapse, and the world would follow.
I totally agree with this show....Its the banks that always know how to "legally" fraud people and thats just one way they do it. I mean think about it, theyr the ones that controll the money in this economy. I think everyone has had the experience of getting a bank loan and ending up paying twice the amount you borrowed because of hidden fees....DOWN WITH THE BANKS!!!!!!
Corporations can only control the govt because it WANTS to be controlled - as long as it is profitable.
Govt's have a monopoly on law enforcement. They could dismantle the immoral corporate structure in a day, if they really wanted to. But they're not accountable to the people, so why should they?
The source of corporate power lies in the govt's complicity, which is enabled by our irrational addiction to violence as a "solution" to every social problem.
so the CRA, Fannie Mae being mandated to force banks to stop redlining poor communities as per Clinton/Barney Frank is all a big myth???? STFU you don't have a clue as to what's going on
@RealityGrapple I was just kidding about the feast thing. Maybe suffering was too harsh a word, but jail time for fraudulent actions is definitely the best way to go.
@RealityGrapple ...people out there and it's become too easy to rob our system blind. There needs to be punishment. These people think they're untouchable and right now they are, that needs to change. We need to break up the big banks just like we did with standard oil. The ONLY way we're going to be able to accomplish that is by taking money out of politics. The average guy can't compete with these egomaniacs with bottomless pockets.
@RealityGrapple It's definitely much larger. The majority of commercial loans will be much higher than your average home loan. We wouldn't even look at a loan unless it was at least a million. They would call really innocent people in middle America, talk circles of bullshit around them and put them into loans they KNEW that couldn't support. I had to get the fuck out of there, I had a crisis of conscience. I don't think the pres has anything to do with it. There are just a lot of greedy...
@RealityGrapple "hope ya die, today, and in a painful manner!" - You know, it probably won't be so bad to be honest. I live in a world where i am entitled to free healthcare, that generally includes enough morphine to keep even an elephant happy. But i understand you live a country of false hopes, so let this just be one extra false hope to add to your list. Cheerio.
If you think it's bad in the residential industry, just wait until people find out about how bad the commercial industry is. I used to work for a small commercial mortgage broker in NY. The underwriters that worked for us were some of the most devilishly clever people I have ever met. They and the banks would be on the phone collaborating ways to falsely up the values of properties, hide problems, lie about occupancy with empty apartments or stores rented to friends. The whole industry is a scam
why should I as a taxpayer bail out bumster home owners who shouldn't have been given a mortgage in the first place?
when the Government bailed out banks it was with loans, Cenk is talking about outright gifts to homeowners, screw that!!
Fannie/Freddie have so much in mortgages because they created a market for subprimes which was the main method used to coerce banks to lend to people not really qualified, all pursuant to the fool liberal idea of forcing banks to stop redlining
Do you want to know the best solution to fixing the problems on Wall Street? Because I know it, listen closely because I’m only going to say this once. #1 stop the protesting, stop the rioting, and STOP breaking the law. #2 go home and get a job. #3 work hard. #4 support the government in their programs that will actually HELP the economy (stop our factories from going overseas, stop illegal immigrants, stop pumping money into programs that don’t need it, ect)
1: Protesting is American. Get over it. If the law is against protesting it is unconstitutional.
2: There are no fucking jobs. Haven't you been paying attention the past 4 years?
3: ...
4: Supporting the government is what got us in this mess. Politicians are only thinking of themselves, so that's not gonna work either. I agree about ILLEGAL immigrants, and also pumping money into programs that don't need it, but which ones? The Pentagon is one. Subsidies for any successful business is 1
He just made a point that the government owns these banks and the president could make them do what we want them too, but the president refuses to do anything. A perfect example that the government is the bad guy they won't act even though they are empowered by their own laws too.Politicians=THE PROBLEM.Peace.
yea
The1stPoster 1 month ago
Here's an idea by Professor Steve Kean of 'Debunking economics': Instead of bailing out banks or doing QE that will give the banks more money to horde why not the President announce a private household 'debt jubilee'? UnAmerican? Andrew Jackson did a version of it no?
AmNotHere911 4 months ago
Bank of America ARE crimnals!! plain and simple... and if you work for them you are a criminal too
norvman 4 months ago
Fannie & Freddie is the best (selfish) idea Wall St. every thought of. They can make huge profits thanks to them playing the sucker, all the while people on TV can claim it's their fault, as if Wall St. don't love those firms so much they'd marry them.
MyTemporaryAccount88 4 months ago
If the bailout was supposed to trickle down it would have been better to just give people that money.
MrExcellcior 4 months ago
Thank goodness, mortgage bundling and speculation no longer exist.
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NOT!!! My wife and I closed on our house in 02/2010. We made exactly one payment to the outfit that wrote our mortgage before it was "bundled" and sold to Chase. We are now seeking alternate financing. I do not want to do business with Chase, BOA, or any other criminal organization.
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Don't wait for the government to fix it. Fire your bank - today, and tell them why they lost your business. They WILL change, I promise.
47f0 4 months ago
Occupy Wall Street, KEEP IT UP!! YOU ARE HEROS!!! THANK YOU FOR BEING TRUE AMERICANS!!!
Mr1958louief 4 months ago
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great idea Cenk! Let's get the OWS crowd to occupy Bill Clinton's/Barney Frank's space for it was those two fine liberals that in 1997 appointed Franlin Raines CEO of Fannie Mae and mandated that banks be forced to comply with CRA and further to encourage as many people as possible to buy homes.
If banks refused F/F wouldn't buy any mortgages, hurt liquidity so banks wrote bad stuff and even bought subprimes from others just to have a market.
F/F/Gov are the authors of the misfortune
genie0390 4 months ago
@genie0390 - Well, genie, as usual, you've gotten your three brain cells short-circuited. CRA primary loans performed within 2% of non-CRA loans. Read the CRA - nothing in the CRA legislation requires writing high-risk loans. But funny that you want to blame Clinton. In 1977, the year that CRA was enacted, my history books assure me that a Republican president, Gerald Ford was in office. But, hey, what's a little revisionist history among conservative butt-buddies, right?
47f0 4 months ago
@47f0
in order for history books to be effective one assumes the person opening the books knows how to read, in your case that's a total fail
genie0390 4 months ago
@genie0390 - yep, Genie-baby, again you evade the topic and resort to personal attacks. I guess when that's the only leg you've got left to stand on, you just have to keep hopping around on it. Care to enlighten us as to when the Community Reinvestment Act ACTUALLY passed? And who, in your bizarro universe was President at the time? Just curious to see how far you'll drop your shorts to defend your misconceptions.
47f0 4 months ago
@47f0
in my world it's better to hop around on one leg that bounce around on your pointy head! Why do you insist on being ignorant? Is it genetic or what?
The CRA was pased by a Democratic controlled Congress and signed into law by pres Carter, Oct/1977
You must be thinking of another CRA, the "Congressional Review Act" of 1996
If you insist on taking me on again, please ensure your brain is taken out of default setting, "Fail big time"
and set on "Smart,aka conservative"
genie0390 4 months ago
@genie0390 - there's nothing more galling than having to agree with you. I had it fixed in my head that Ford's term lasted til '77 - which is technically correct. But only for a few weeks. So we can, in fact, just as you say, attribute the CRA to the Carter administration. Now - if you can point out where the CRA requires bad mortgages to be written, your triumph will be complete.
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Now, if you'll excuse me for a bit, after having to type a retraction to Genie, I need to go dip my hands in acid.
47f0 4 months ago
@47f0
you have to be OK kind of guy to admit you were wrong
as to CRA, it was passed to stop banks redlining poor communities, put as many poor people into homes as possible. Only way to do that is loosen lending rules and/or come up with innovative mortgages. Banks did both. Actually to fully understand Government's involvement you have to look at so called enhanced CRA where Clinton/Barney Frank mandated Fannie Mae, set out all sorts of rules
btw, what kind of acid will you use?
genie0390 4 months ago
why should American taxpayers buy homes for those who took out mortgages they couldn't afford to service?
do not blame the banks, they didn't go out capture people and twist arms to grant them subprime mortgages
genie0390 4 months ago
@genie0390 Read the bill "American Dream Down Payment Act of 2003" passed by yours truly, Republicans.
Stingerbillion 4 months ago
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TYT are such ridiculous liars.
CLINTON ORDERED FM AND FM TO ABSORB THE SUB-PRIME MORTGAGES.
This ENTIRE collapse stems from Clinton, the Democrats, and the liberals pressing FM/FM and the banks to make sub-prime loans. You subtract Clinton and the sub-primes from history and NONE of this collapse happens.
People like TYT SUPPORTED forcing these loans on banks and supported loans to people who couldn't pay them back.
FactChecking101 4 months ago
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@FactChecking101
facts run off TYT and their progressive brain dead viewers like water off the proverbial goose!
TYT are not the only ones that supported forcing banks to make these loans but it was Senator Obowma that in fact threatened a filibuster to stop Bush's regulating the GSEs, now this hypocrite claims it was Bush that drove the economy into the ditch.
American politics suck
genie0390 4 months ago
@genie0390 Well said.
Facts no longer matter in YouTube world.
FactChecking101 4 months ago
holy shit cenk looks really pissed here
assas1n101 4 months ago
Where are the Wallstreet whistleblowers? I'd love to hear a frank first hand account of all the shit that these crooks are actually doing - Ive had it up to here with these corporate mouthpiece journalists and reporters, there has to be at least one banker in wall street who has conscience
enigma1990 4 months ago
Can someone explain to me how a bank makes more money by issuing a mortgage to people who can't pay it back?
thegillotine09 4 months ago
@thegillotine09 Bank loans property, say at 100k, to someone who's underwater, then sells that loan off, using a BIG FAT LIE saying the homeowners make enough money to pay it to another bank, at a profit. The bank officer sees (on paper) that the loan is good and signs off on it, and then gets stuck with a toxic loan. They then do the EXACT SAME THING, but selling it at a profit to a Government backed bank (i.e. Freddie Mac, Fannie Mae.)
It's more complex than that, but that's the general idea.
darkridr25 4 months ago
@darkridr25
Right, but why not just loan to someone who can pay the loan back so you don't get a reputation of passing around toxic assets?
thegillotine09 4 months ago
@thegillotine09 Corporations are designed to make a profit, and don't have any honor. The board saw that they make more by selling both toxic and non-toxic loans than they ever could by being reputable, and cleaned up, at the people's expense.
If all the banks hold the same reputation for selling toxic loans, who do you trust? Even if a new bank came along which was honorable, would anyone trust them, at this point?
darkridr25 4 months ago
@darkridr25
Well hell you seem to trust politicians so I suppose anything is possible :P
thegillotine09 4 months ago
@thegillotine09 Me? Trust politicians?!? Are you kidding me???
Oh wait. You mean people trust politicians, not me specifically. You know, you have a point there. So say that reputable bank started generating a following. The BIG BANKS have such a loud voice in the media these days that they'd simply discredit that bank, and everyone would believe it 'cause they blindly believe what's told to them on the TV, no matter how insane....
darkridr25 4 months ago
@MiloDaemon /watch?v=WNCdy0hCDnE
ypsidan04 4 months ago
You wanna move houses? Forgive student loans! I'd buy a house next month if I didn't have student loans. Pay more in rent now than I could be paying a cheap mortgage, but I don't qualify.
ypsidan04 4 months ago
Capitalism isn't the problem, deregulation/lack of oversight is the problem. Asking corporations to regulate themselves is like setting a full cookie jar in front of a toddler and telling her she can't have the cookies, then you walk away. When you come back, the cookies are all gone; if you want a taste, you have to gather up the crumbs. Oh, and the toddler is now puking all over the place, which you have to clean up.
tyendanega 4 months ago
@tyendanega I absolutely LOVE this analogy! Perfect in its simplicity. And devastatingly accurate!
darkridr25 4 months ago
the system is rigged to fuck the middle and lower class and to help the upper class
osoelv702 4 months ago
sociology(dot)ucsc(dot)edu/whorulesamerica/power/wealth(dot)html
Read, you mofos. It is VERY educational. It talks about income disparity in the United States.
crackerkiller89 4 months ago
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crackerkiller89 4 months ago
DOGOOD HERE: I Just Found Out Wells Fargo Was Crooked Today!!
ReverendDoGood 4 months ago
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TheOzzyism 4 months ago
Occupy wall street protestors are now at my campus. I'm joining them.
Mika20 4 months ago
I think what a lot of people fail to realize is that the banks are NOT the only ones at fault. Fanny Mae and Freddy Mac are also to blame. The government is also to blame. They are the ones who ALLOWED this sort of thing to happen. They are the ones who caused the bubble in the first place. So OF COURSE the privately owned banks will take advantage of it and invest in the housing to make money and cause the bubble to burst.
crackerkiller89 4 months ago
Absolute FUCKING CRIMINALS
theelbowfromthesky 4 months ago
Cenk's the fucking man
drhoneybadger 4 months ago
This is two days old and not spiked 1million views because why??????????????????????????
Shock / amazement!
WildBuck007 4 months ago
Homefront Might Actually Happen
HackingFever101 4 months ago in playlist More videos from TheYoungTurks
My friend works for Wells Fargo and he told me most of the people there do shady shit to make commissions... setting up accounts for people that they never wanted just to make bonuses. Its small scale stuff and unrelated to mortgages but he said its common and it goes to show how crooked they are.
wordlyfe 4 months ago 3
great video but whats with the horrible captions lol
frosti108 4 months ago
This has been flagged as spam show
Ron Paul 2012
rockytopfarm 4 months ago
This is why all media like Msnbc and Fox are still trying to be in there fantasy world of 2008 and thinking the less they talk about Ron Paul the better. Ron knew all this was coming back in 2006. Lets just say, Ron has the left and right where he wants them. The left made a bad choice of leaving us Libertarians hang against Bush and the wars to hide behind Obama. This is where we are going to go after Obama at. " Obama was more worried about healthcare instead of doing what he promised"
rockytopfarm 4 months ago
But isnt that just the way American society is, and people think about US society should work.
Banks make money so they are winners who should be protected at any cost, and the people who are in trouble with their mortages are losers who should go bankrupt and homeless ?
ari1234a 4 months ago
Ron Paul was talking about the housing bubble and banksters in 2005/2006 before it happened. The free market economists understand that the fed is the source of the cheap money. What we need to do is end the fed and then see if the banks stop taking hidden risks not. The government needs to get out of the way and let the free market crush these losers. I agree if we have to bailout someone it should be the people and not the banksters.
bigboywasim 4 months ago
@bigboywasim or not
bigboywasim 4 months ago
People need to stop accepting settlements like this, and take these bitches down in court. I'm getting sick of companies clearing themselves with the wave of a hand.
futurestoryteller 4 months ago in playlist More videos from TheYoungTurks 10
I search TYT on Bing and got erdeogan and some, young...umm... well, let's just say they didn't have any arm pit hair. But, well, injustice happens.
sunRsaturn 4 months ago
Well, like you said, injustice happens. You can make more money mudering your little daughter then... well, a normal job.
sunRsaturn 4 months ago
$10,000,000.00 by 60,000 violations comes up to $166.66 per violation. They still make a profit of $733.44 on each transaction.
hentia2 4 months ago
The banks were deregulated over a couple of decades ago and its been a disaster ever since. So what do we do --- give them over a trillion dollars more. What kind of capitalism is that? We need a direct lending agency operated by and for homeowners and small businesses, whose foundation and power will rest with local government. Fannie Mae and Freddie Mac are through -- they've become clearing houses for fraud.
wlljon7 4 months ago
I think true libertarians and liberals are accurately pointing out the problem. The difference is how either side wants to fix it. Cenk's outrage is completely justified. I say this as his political opposite. When you mix government enterprises and big private corporations, this is what you will always eventually get: cronyism. Occupy Wall Street should be crying out to end the FED and end all this pseudo public/private centralized banking bullshit!
hallavast 4 months ago
@hallavast OWS IS about that and all the changes the people want. It's ALL OVER THE WORLD and growing everyday. It's information like this that must be spread to all your family, friends and neighbors. People must have information so they KNOW what's going ON!
Spread the word
ziger123456 4 months ago in playlist More videos from TheYoungTurks
names of corrupt corporations and what they did is a good idea. can you please make a webpage that has the corrupt corporations and what they have been up too? it would also be nice if you could put any businesses they own. i for one would like to start voting with my wallet and avoiding giving these corporations my business. i know that this is starting to become a popular idea on the internet. if we all just stop giving them business we can just let the sink away and disappear!
greycloud24 4 months ago
@CBGartner91 shhh only the teabaggers can cry revolution, any other revolutions is a communist nazi kgb scheme created by hitler , and the teabaggers and their bankster owners cant have that
eight18 4 months ago
Ok i take that back..you didnt forget...thank u cenk for keeping it real.id vote u president..well cenk and jon stewart
deadkornbread 4 months ago
"I wanna name names" <-- Let's keep doing that. Tweet it if you have to!
radargab 4 months ago
Cenk you forgot bank of america
deadkornbread 4 months ago
The banks got bailed out. The American people got sold out.
menthol5 4 months ago in playlist More videos from TheYoungTurks
Obama and DC, champions of the ppl. The very very rich ppl.
samuelantonio 4 months ago
@RealityGrapple - Are you a fucking idiot? I mean at what level does your retarded nature stop? I said Deal with it. It wasn't a defence, idiot boy. A very slight base in reality might of shown you that. Deal with it!
TheSpankymonkey 4 months ago
Stop borrowing money people, starve these fucking vampires
demonorse 4 months ago
We need to establish a firm date and all stop paying on our houses at the same time. What the fuck are they gonna do? Send the cops to kill us all?
demonorse 4 months ago
@demonorse I lol'd
TheAsymmetrical 4 months ago
@TheAsymmetrical Well, I wasn't really trying to be funny. I guess I'm glad that you are amused.
demonorse 4 months ago
@demonorse No, Kick us out of our homes.
mrawesomedood44 4 months ago
Comment removed
MrYadakun 4 months ago
you realize the banking institutions go down, America goes down, right? morons.
bauer18 4 months ago
@bauer18 You think they care about facts?
It's funny how nobody talks about Obama suing the banks for not making out mortgages to low income people in the 90's. Or that Barney Frank (D) was the one who forced these banks to make the toxic loans, Cenk keeps going off on.
rLOVEutionFor2012 4 months ago
US Veteran-comes home from war. "Hey man, i just spent two years in a desert, saw my best buddy get his head blown off and nearly got blown up by an IED, you think you can maybe help me out with some of my money issues?"
Republican: YOU FILTHY PARASITIC MOTHER FUCKER! TRYING TO STEAL FROM THE PRODUCTIVE CLASS OF THE GREATEST COUNTRY EVVVERRRR. HOW DARE YOU! NOTHING IS FREE IN AMERICA! THAT'S WHY WE'RE THE BESSSSTTT B/C NO ONE DESERVES MERCY FOR ANYTHING!!!....except my good buddies the banks..
deveousdevil 4 months ago
Revolution is the ONLY solution. Period.
Jex134 4 months ago
@Jex134 Bloody revolution
demonorse 4 months ago
Should of listened to Jefferson.. Corporate Banks will suck the American people dry.
lestliness 4 months ago
i am all for Capitalism BUT!
the government should own all banks, and all public services.
every public service that is privately owned will only care for profit and will break the law to do so. we see this all the time.
OndskapensHersker 4 months ago 76
This has worked in every country where it has been implemented.
Nationalize all banks,oil companys, & the public sector.
pay those private foreign companys what their business is worth & tell them to cry home to moma instaed of having us bail them out.
Its the only solution.
TheOzzyism 4 months ago 12
@TheOzzyism
yep.
i'm from Norway, and i'm so fucking glad the government owns the Oil here, i know that if it didn't i would probably be homeless.
not saying that Norway is perfect, but at least we don't have all the rich folks harvesting the middle and lower class of all money.
OndskapensHersker 4 months ago
@OndskapensHersker i hear ya, america is falling way behind when it comes to this,
even mexico & canada have a state owend oil ompany.
TheOzzyism 4 months ago
@OndskapensHersker
Not to mention public transports!
Trains, buses, boats etc.
here in norway we pay 16$ for a 30 minute bus trip. ONE WAY. just because it's private.
how insane is that?
OndskapensHersker 4 months ago
@OndskapensHersker I agree with your statement except for one part: "all". Govt. should offer education (public service), but so should private institutions if they wish to. They might do a remarkable job at it (Harvard). Govt. should have public hospitals, but there should be private hospitals as well. Imagine the mall without private mall cops. Not as fun a place.
DrQuijano 4 months ago
@OndskapensHersker Govt. could offer electric, water, and phone services, but there should also be private corps that offer the same system. They do that in Puerto Rico (a US territory) and it mostly works lovely (except when the govt. overcharges and they have to be called out). More importantly, govt. should control the Mint and the main central bank, but the rest of the banks should be private and credit unions in order to avoid manipulation and stuff like that (like China).
DrQuijano 4 months ago
@OndskapensHersker and the government will waste waste waste ....encourage Fannie Mae, etc.. Gov't....meh
Panchee123 4 months ago
Blame...blame...blame. The bubble was created by buyers, not sellers.
JuanVoyce 4 months ago
i love cenk and the young turks but i worry about cenk's blood pressure... love the passion but its got to be getting to him...... fucked up governemnt
ohbuddyiliketowatch 4 months ago
Hilary should run for press, she'd win this election for sure!
Ananius1 4 months ago
When Countrywide purchased my first mortgage (which I had done a 3/1 buydown on), they tried to make me pay the higher third year mortgage. I had to PROVE to them that I paid that extra money up front. I wonder how many people they actually defrauded this way.... I am lucky, I read my bills and have a good grasp of english. I often wonder... if this was an old person, they would have been screwed!!
terryseviltwin 4 months ago
With the $1 trillion that we gave banks, the government could have created its own non-profit credit union that would benefit everybody because it doesn't overcharge. But no.... that would be communism...
TrickyEmu 4 months ago 105
@TrickyEmu The government can ask for that money back. That's taxpayer money, if these corps are not going to create jobs, then give it back. That money can be used for something else.
Stingerbillion 4 months ago
@Stingerbillion x2
TrickyEmu 4 months ago
For the love of money, people will rob their own brothers...
longenecker79 4 months ago
DOZENS of people have been arrested over the last couple days for trying to close their bank accounts! This is a fascist police state in need of another civil war!
bamboo4tameshigiri 4 months ago
Of course! This is a fascist police state. People don't matter. Only the top 1% are considered human beings by Uncle Sam.
bamboo4tameshigiri 4 months ago
You can thank your buddy, Barney, (the name says it), Frank, for the demise of Freddy & Fannie Cenk.
bobbytiger 4 months ago
Ron Paul voted AGAINST the bailout. Remember that next time you vote.
bluefootedpig 4 months ago
Obama voted for the bailout.
bluefootedpig 4 months ago
@bluefootedpig So did almost every single republican, moron.
bamboo4tameshigiri 4 months ago
@bamboo4tameshigiri Good point, just reminding me who voted for this horrible plan. Although it should be noted other republican running against obama also voted for it. But you are right, the democrats kind of did vote this onto society.
bluefootedpig 4 months ago
This has been flagged as spam show
If you don't do anything, if you ignore it, then you support it.
70174 4 months ago
and the brainwashed sheeple WONDER why the protests are going on
chronDiggity 4 months ago
Yo cenk bust them up man. U should just have one show that talks about all the messed up thing that wall street, the banks, and business's like goldmensacks have done. Please
CBPfilm 4 months ago
@20thcentfox, Alex Trebek is Canadian? I did not know that. But alot of great Canadians immigrate to the US. Jim Carey did.
eric8542011 4 months ago
Don't forget about the Peasant Insurance! You know, the insurance taken out on the peasant workers so when the peasants die the company collects.
cynisturb 4 months ago
Wall Street needs to get hit by a meteor
ZachValkyrie 4 months ago
You know what? Cenk, have this as your FIRST segment on Current TV.
lukegreen37 4 months ago in playlist More videos from TheYoungTurks
Wall Street is utter shit....Why?
Well, if it acts like shit, sounds like shit & smells like shit ...Then it IS SHIT!
12235117657598502586 4 months ago
This has been flagged as spam show
This is why we fight!
rocalocko 4 months ago
It is good to be a Canadian home owner. America's hat no more. USA is now Canada's diaper.
CATSASS1117 4 months ago
@CATSASS1117 , USA is Canada's diaper? what an idiotic comment. Why would Canada need a diaper anyway?
eric8542011 4 months ago
And America goes to bed "were the greatest country on earth". Corrupt beyond belief.
derberg19486 4 months ago
....-is this story supposed to suprise me...?
zythepsarian 4 months ago
@RealityGrapple - Deal with it. There are many many more people like me in the world than there are actual Americans. Whilst you might seek to dismiss my sentiment as "bigotry" and therefore wrong, it still doesn't change the fact that a great many people despise your country. Now you can either man up to that fact or you can whine like a little bitch on youtube. I despise your country for a great many valid reasons. If you aren't intelligent enough to admit those reasons then it's your problem.
TheSpankymonkey 4 months ago
@RealityGrapple ZM puts a good handful of lies into a generalized format. In fact they take good ideas and ruin them with lies. Debt IS in our system, and there is nothing we can do to remove it or "fix" it other than completely removing the system in total. There are too many people who have accumulated power on the debt system, and they will not let go of it willingly. They will pit us against each other, depending on our greed to keep them in power.
cosmicforums 4 months ago
@RealityGrapple "Which is the main reason I'm pulling for you to be hit, mangled, dragged and killed by a bus." - Like i said. More false hopes. You are welcome to them. One of you likes to guess a whole load of things that are false about someone else (without having any real grounds to do so) and the other (you) likes to wish for things that aren't likely to happen. Good luck the pair of you with all of that. You do kind of feed into that false stereotype that all Americans are stupid.
TheSpankymonkey 4 months ago
The funniest part is that while there are so many claims of being financially underwater, there are still million to billion dollar projects invested for kicks. Gratuitously expensive homes, transportation, luxury devices, entertainment, etc.
And there's not anything anyone can do about it. No one with the power nor the resource wants to cut back.
JackNeet 4 months ago
Preach it, Cenk!
KalosSkopeo 4 months ago
@RealityGrapple
dorks like you, with no education, experience to know that the CRA and the liberal push for families to own homes created the frenzy, set the stage for ALL bad lending. You know nothing about business dynamics and how social agendas foisted unto businesses often has unexpected results.
you also don't know that the buck must always stop with Government as they are the ultimate power to change practices
SEC is full of useless pricks, didn't catch Madoff
genie0390 4 months ago
@genie0390 If the CRA was such a bad scheme, then it would have collapsed within the first generation of mortgages, but two or three generations of mortgages went through the system before things even STARTED to go wrong. Most of the mortgages that went foul were not even subject to the CRA, and the CRA loans only went foul because the other subprime loans had caused a real estate bubble.
dangerouslytalented 4 months ago
@RealityGrapple Total newb? I have an MSc in Economics. I can tell you that most 'alternative' currency systems are not plausible and just because economists like to theorise and post it onto websites, that doesn't mean that they are viable solutions.
zebbedi 4 months ago
@zebbedi
I have the same degree in Applied Economics, have 2 prof designations, been VP and then CEO, own my business, have loads of experience in oil, banking, real estate dev and I'm unable to get through to most.
the problem we face is not rich bankers, the traditional scapegoats. fact is over last several decades we have built such a liberal, organized society and economy that we simply cannot compete with Asian Countries. we are transitioning to knowledge based economy
genie0390 4 months ago
@genie0390 It would be hard to agree that banks are not at least part of the problem. The whole economical situation in the U.S and UK was the fault of the banks directly and the governments failure to not regulate them.
I myself am a staunch capitalist and fiscal conservative but I'm a social liberal. I have a feeling that you are going to advocate the 'free market' theory and also assume that you are American. Would that be correct?
zebbedi 4 months ago
@genie0390 no sarcasm...can you explain that a little more in detail? im curious what you are talking about.
amusingisthedawn 4 months ago
@RealityGrapple "I have a couple of chronic medicala conditions that make every minute of my life painful" - See, stop for a moment and think what you have just done here on youtube. I for one support America and Americans to fashion a nation that is worthwhile, rather than cast an entire nation aside as worthless. However assholes like you come along and wish painful deaths on someone like that, simply because he despises a country that treats it's people (you) like they do. Hardly intelligent.
TheSpankymonkey 4 months ago
sesame street's channel got hacked and was removed because porn was on teh channel. i would love if they did a story about it
FluffyKittenMittens 4 months ago
@RealityGrapple - "See, that's why you're a dick" - Oh do pardon me. Wasn't you the one that wished a horrible painful death on another human being? And you honestly expect a nice reply from that? I despise America for it's politics, the way it proclaims one thing and does another. How it's people suffer needlessly at the hands of it's bankers and politicians. I despise it for it's poor education, it's crippling of children with religion and falsehoods. You took no time to establish that. Idiot.
TheSpankymonkey 4 months ago
@RealityGrapple - Nice try. I am NOT ZM. Zeitgheist is wrong in many ways. The property of capitalism (money) is that there be winners and losers. there will be always debt in a capitalist society. That is oppressive.
cosmicforums 4 months ago
@RealityGrapple We have tried the systems that evolved through time. The Gold Specie, Bullion standards, silver and other precious metal standards, systems that are pinned to other currencies that our on precious metal standards. What other methods are there?
The economy and treatment of cancer are entirely different things and parallels cannot be drawn. You seem to be lacking the basic understanding of finance to be having a serious debate with you.
zebbedi 4 months ago
This is what happens when government gets in bed with banks and corporations, a kingdom is destroyed.
The wallstreet protests are a decade late but I do think this movement will only grow and eventually the government will have to react, and it's that reaction and the reactions to that, that will decide our fate. If our government fails to correct itself, or we fail to correct it before a certain unknown point, we could be at or past that point, it's total collapse, and the world would follow.
TheUSMetalhead 4 months ago
I totally agree with this show....Its the banks that always know how to "legally" fraud people and thats just one way they do it. I mean think about it, theyr the ones that controll the money in this economy. I think everyone has had the experience of getting a bank loan and ending up paying twice the amount you borrowed because of hidden fees....DOWN WITH THE BANKS!!!!!!
boteroblink 4 months ago 40
Cenk, this game is rigged on both ends.
Corporations can only control the govt because it WANTS to be controlled - as long as it is profitable.
Govt's have a monopoly on law enforcement. They could dismantle the immoral corporate structure in a day, if they really wanted to. But they're not accountable to the people, so why should they?
The source of corporate power lies in the govt's complicity, which is enabled by our irrational addiction to violence as a "solution" to every social problem.
AlexanderReiswich 4 months ago
@RealityGrapple Other Monetary systems that we used to have and didn't work.
zebbedi 4 months ago
@RealityGrapple
so the CRA, Fannie Mae being mandated to force banks to stop redlining poor communities as per Clinton/Barney Frank is all a big myth???? STFU you don't have a clue as to what's going on
genie0390 4 months ago
This issue, is one proving why Occupy Wallstreet is legit.
SinisterSkip 4 months ago
@RealityGrapple I was just kidding about the feast thing. Maybe suffering was too harsh a word, but jail time for fraudulent actions is definitely the best way to go.
biggydx 4 months ago
Class Action Lawsuit Time People Lets Get them where it Hurt There PocketBook
MrJSouthpaw 4 months ago
5 bankers disliked this video
smistry93 4 months ago
@RealityGrapple ...people out there and it's become too easy to rob our system blind. There needs to be punishment. These people think they're untouchable and right now they are, that needs to change. We need to break up the big banks just like we did with standard oil. The ONLY way we're going to be able to accomplish that is by taking money out of politics. The average guy can't compete with these egomaniacs with bottomless pockets.
shamz0rz 4 months ago
@RealityGrapple It's definitely much larger. The majority of commercial loans will be much higher than your average home loan. We wouldn't even look at a loan unless it was at least a million. They would call really innocent people in middle America, talk circles of bullshit around them and put them into loans they KNEW that couldn't support. I had to get the fuck out of there, I had a crisis of conscience. I don't think the pres has anything to do with it. There are just a lot of greedy...
shamz0rz 4 months ago
Reich wingers, I thought wallstreet were the victims.
pistolpete1st 4 months ago 2
Want debt relief? Abolish money. If you want debt relief, yet still to keep your money, then you fix nothing.
cosmicforums 4 months ago
Liberals are such conspiracy theorist. Corporations are GOD!
dfg93353 4 months ago
@RealityGrapple "hope ya die, today, and in a painful manner!" - You know, it probably won't be so bad to be honest. I live in a world where i am entitled to free healthcare, that generally includes enough morphine to keep even an elephant happy. But i understand you live a country of false hopes, so let this just be one extra false hope to add to your list. Cheerio.
TheSpankymonkey 4 months ago
If you think it's bad in the residential industry, just wait until people find out about how bad the commercial industry is. I used to work for a small commercial mortgage broker in NY. The underwriters that worked for us were some of the most devilishly clever people I have ever met. They and the banks would be on the phone collaborating ways to falsely up the values of properties, hide problems, lie about occupancy with empty apartments or stores rented to friends. The whole industry is a scam
shamz0rz 4 months ago 49
@RealityGrapple We feast >:}
biggydx 4 months ago
It's time to Occupy Earth!
Listen to the Peter Werbe podcast from last night, particularly the part about Columbus and how it relates to today.
cynisturb 4 months ago
@cynisturb Can you perhaps provide a link?
shamz0rz 4 months ago
@shamz0rz
wrif. com/podcasts/Episodes. aspx? PID=1499
cynisturb 4 months ago
@cynisturb
peterwerbe. com
cynisturb 4 months ago
@cynisturb Thanks man.
shamz0rz 4 months ago
@shamz0rz No problem. If you like TYT, you'll love Peter Werbe.
cynisturb 4 months ago
why should I as a taxpayer bail out bumster home owners who shouldn't have been given a mortgage in the first place?
when the Government bailed out banks it was with loans, Cenk is talking about outright gifts to homeowners, screw that!!
Fannie/Freddie have so much in mortgages because they created a market for subprimes which was the main method used to coerce banks to lend to people not really qualified, all pursuant to the fool liberal idea of forcing banks to stop redlining
genie0390 4 months ago
@Darkglitchx you articulate the point well. I couldn't agree with you more.
gusnnell 4 months ago
Where's Ralph Nader?
cynisturb 4 months ago 2
Let 'em eat grass...
audadvnc 4 months ago
I want the country to fail so every politician and banker can suffer at teh hands of the protesters.
biggydx 4 months ago
@biggydx I say that everyday. We will have to pick up the pieces afterwards though and hope no one attacks us in the meantime.
DarkGlitchX 4 months ago
Please run for president
allp84 4 months ago
All the more reason to get out and protest.
collegeman1988 4 months ago
@collegeman1988 Protesting is not enough. Bankers will only listen when you fuck with their pockets.
DarkGlitchX 4 months ago
Do you want to know the best solution to fixing the problems on Wall Street? Because I know it, listen closely because I’m only going to say this once. #1 stop the protesting, stop the rioting, and STOP breaking the law. #2 go home and get a job. #3 work hard. #4 support the government in their programs that will actually HELP the economy (stop our factories from going overseas, stop illegal immigrants, stop pumping money into programs that don’t need it, ect)
fte26 4 months ago
@fte26
1: Protesting is American. Get over it. If the law is against protesting it is unconstitutional.
2: There are no fucking jobs. Haven't you been paying attention the past 4 years?
3: ...
4: Supporting the government is what got us in this mess. Politicians are only thinking of themselves, so that's not gonna work either. I agree about ILLEGAL immigrants, and also pumping money into programs that don't need it, but which ones? The Pentagon is one. Subsidies for any successful business is 1
DarkGlitchX 4 months ago
Keep going with that list, Cenk. Better yet, give it to me, I wouldn't be surprised to find Citigroup in that list.
rc100100110 4 months ago
hey, if u cant beat em, join em
ThePoRoy 4 months ago
Everyone was too busy worried about illegals. Hahhahahaha, USA government has a lot of tricks up their sleeves.
azrebels 4 months ago
He just made a point that the government owns these banks and the president could make them do what we want them too, but the president refuses to do anything. A perfect example that the government is the bad guy they won't act even though they are empowered by their own laws too.Politicians=THE PROBLEM.Peace.
chewycandy666 4 months ago
All you hear on Fox is, "No one knows why these dirty hippies are protesting."
dhebert111 4 months ago