in 2007, I made $30.000. which in California is just at the recognized poverty line. No kids, single. I was receiving 10-12 offers for mortgages per week in the mail. Common sense told me I could not affort a half million dollar mortgage. Now, these companies are evil, but where was the responsibility on the part of the consumer ? Funny thing, three years later, everyone else has ruined credit, and now they're sending me offers again. amazing.
Switched-on stockbrokers saw this coming 10yrs ago... Goes to show how scum filled our financial institutions are, & how fragile this worlds economy is.
It's a combination of things. Greed, avarice. We've been raised to believe we have a right to all things. Were the people deceived? Yes,but they were betrayed more by their covetousness than by the banks. Deep down,we all know when we've made a deal with the devil. There's a penalty for that.
I put my real estate license on hold because I saw the current trend coming. The irresponsible lending, and the way home buyers trust one single stranger --a lender-with years worth of their future earning power.
I always urged clients get three lenders' bids before choosing a loan. ADVICE RARELY TAKEN. Not Just Targeting Minorities. Anyone who could fog a mirror and sign a loan doc. Too much belief in television life. Too much belief that the government protects you. Protect yourself.
THis will probably be a great informational doc., but keep in mind...Greenspan and his friends are not stupid, there hasn't been a free market in years, AND he and those who have profited from this economic disaster should be held accountable! They are not stupid/ this was not just a mistake, this is ROBBERY! Do not give these guys the benefit of the doubt that this was an accident.
Things sure did change. When I applied for a mortgage in 1994 things were so tight and strict they put me through absolute hell to get my mortgage....they did everything short of a blood test on me & my wife......and.....that was with 20% down, good credit, zero debt and money in the bank...and....steady jobs we had in excess of ten years.....in fact I had been with my company for "20 years".
Brilliant, it is about time we exposed the greed of the economy. It sad because we put our faith into a system that abuses our trust. For once in my life I am ashamed to be British. In the good Victorian days such a scandal the people responsible would put a gun to their head because of the shame & guilt. Now..they get paid off with our tax and escape to the Carribean with no guilt! Can't wait to see this!
Great video, If you need any help getting your videos or channel exposed, i use a service called thetubeviews . net it has helped 5 of my videos get ranked on the first page
in 2007, I made $30.000. which in California is just at the recognized poverty line. No kids, single. I was receiving 10-12 offers for mortgages per week in the mail. Common sense told me I could not affort a half million dollar mortgage. Now, these companies are evil, but where was the responsibility on the part of the consumer ? Funny thing, three years later, everyone else has ruined credit, and now they're sending me offers again. amazing.
90038jhon 11 months ago
Switched-on stockbrokers saw this coming 10yrs ago... Goes to show how scum filled our financial institutions are, & how fragile this worlds economy is.
botswanky 11 months ago 2
It's a combination of things. Greed, avarice. We've been raised to believe we have a right to all things. Were the people deceived? Yes,but they were betrayed more by their covetousness than by the banks. Deep down,we all know when we've made a deal with the devil. There's a penalty for that.
lifeseeker51 1 year ago
This has been flagged as spam show
Be ready naughty woman mworld5.info
ljjmbguhho 1 year ago
We saw this in our law school class. Loved it! Particularly liked the banker interviews. Must see for everyone!
sharmaumd 2 years ago
@sharmaumd we did too; u at stanford?
iteslabot 11 months ago
C'mon back, suckers, Wall Street is open and ready to steal what little money you have left.
Don't wait to get raped when one of our "Too Big to Fail" banks can bend you over that stump NOW.
LeseMajeste 2 years ago 2
I put my real estate license on hold because I saw the current trend coming. The irresponsible lending, and the way home buyers trust one single stranger --a lender-with years worth of their future earning power.
I always urged clients get three lenders' bids before choosing a loan. ADVICE RARELY TAKEN. Not Just Targeting Minorities. Anyone who could fog a mirror and sign a loan doc. Too much belief in television life. Too much belief that the government protects you. Protect yourself.
Lindagratitude 2 years ago 6
irresponsible lenders alone would be no problem. also see a government eager to bailout said lenders.
platypusrex256 2 years ago
THis will probably be a great informational doc., but keep in mind...Greenspan and his friends are not stupid, there hasn't been a free market in years, AND he and those who have profited from this economic disaster should be held accountable! They are not stupid/ this was not just a mistake, this is ROBBERY! Do not give these guys the benefit of the doubt that this was an accident.
cherrieri 2 years ago 2
truth
platypusrex256 2 years ago
Things sure did change. When I applied for a mortgage in 1994 things were so tight and strict they put me through absolute hell to get my mortgage....they did everything short of a blood test on me & my wife......and.....that was with 20% down, good credit, zero debt and money in the bank...and....steady jobs we had in excess of ten years.....in fact I had been with my company for "20 years".
inkey2 2 years ago
Another great sociopolitical revelation from the Cockburn clan. Can't wait to see the movie!
DrSusanBlock 2 years ago 2
can't wait to see this movie
Tomster2007 2 years ago 4
i didn't knew that this was made from olivia wilde's parents!!this was brilliant though..
kokakion 2 years ago 3
More unearthing. Power to the rebuild!
LanjersOaken 2 years ago 4
Brilliant, it is about time we exposed the greed of the economy. It sad because we put our faith into a system that abuses our trust. For once in my life I am ashamed to be British. In the good Victorian days such a scandal the people responsible would put a gun to their head because of the shame & guilt. Now..they get paid off with our tax and escape to the Carribean with no guilt! Can't wait to see this!
SashaTorte 2 years ago 2
Good to see someone showing the truth in all of this. Can't wait to see the real deal.
chibijax 2 years ago 6
This has been flagged as spam show
Great video, If you need any help getting your videos or channel exposed, i use a service called thetubeviews . net it has helped 5 of my videos get ranked on the first page
ps. I really liked your channel!
Jalendgfg 2 years ago