Tmot, you hit it dead on the head. The complicity between realtors and the loan companies/banks was unreal. Greed was running amuck and the low income, bad credit risk and uneducated people didn't care as long as they got those houses they couldn't afford. They played with those loop holes that Freddie and Fannie had in the group lending to the hilt and not one banker went to jail. I would be willing to bet that someone in the government was involved too.
The one thing that is missing is the part where the government held a gun to the banks' heads forcing them to make loans to those who couldn't afford them because they were minorities.
@tmotofga Indeed. But this goes back to Carter and every POTUS since who enforced the laws that made it illegal to not give loans to low income people.
Very impressive work. I blame the Federal Reserve for artificially lowering interest rates in the late 90's, which spawned the massive house appreciation, and so forth.
Tmot, you hit it dead on the head. The complicity between realtors and the loan companies/banks was unreal. Greed was running amuck and the low income, bad credit risk and uneducated people didn't care as long as they got those houses they couldn't afford. They played with those loop holes that Freddie and Fannie had in the group lending to the hilt and not one banker went to jail. I would be willing to bet that someone in the government was involved too.
hartlessnhere1 3 months ago
The one thing that is missing is the part where the government held a gun to the banks' heads forcing them to make loans to those who couldn't afford them because they were minorities.
steve0281 3 months ago
@steve0281
It was LOW INCOME.
tmotofga 3 months ago 2
@tmotofga Indeed. But this goes back to Carter and every POTUS since who enforced the laws that made it illegal to not give loans to low income people.
steve0281 3 months ago
This would be a funny video if people didn't suffer from the consequences in the real world.
GeneHeim1 3 months ago
What program created this?
DamienNeverwinter 1 year ago
@DamienNeverwinter
State
tmotofga 1 year ago
LOL, Brilliant, T.Laffing in tears.Its just the facts, read em weep folks. :)
Seantherad 1 year ago
i love it!!
jdw463 1 year ago
Good video. It would be cool if you did one on the loan shark, I mean credit card industry.
Vernonu9 1 year ago
Very impressive work. I blame the Federal Reserve for artificially lowering interest rates in the late 90's, which spawned the massive house appreciation, and so forth.
siggyboss 1 year ago
great post!
ometrick 1 year ago
excellent!!!
mpenny226 1 year ago
WOW..TRUTH HURTS
aarrone99 1 year ago
Get on your knees and blow me instead lol! this was great..exactly wht happened.
selahmami 1 year ago 2
Ok, this is actually pretty cool/funny.
TehSmellulare 1 year ago
Amazing, this does nicely, thanks for posting it.
joesphx19 1 year ago
That was perfect.
bmiceo 1 year ago
This is exactly what happened. This video explains it perfectly. Bravo
StatuesqueOne 1 year ago
ahahaha, nice TMOT.
dingles4breakfast 1 year ago
This is genius. It explains the mortgage crises so well and the dishonesty of the banks, mortgage lenders, stock traders and mutual fund companies.
Where did this come from? The part about the SPV explains so much.
Sadly we citizens are only viewed as expendable sources of labor and income to too many corporations and government agencies.
dgtlbl 1 year ago 6
lol i can't believe you made a video like this.
sillydillydokieo 1 year ago 6