Bird and Fortune - Subprime Crisis

Search for US DEBT FORMULA

Liberal idiocy, not just Wall Street, played a huge role in this crisis...do you know what liberal queers were doing in the US? Pressuring banks to give home loans to people on welfare!!!!!!!!!!! That's right, people too poor to provide their own food were getting houses. "Prodded by Federal laws and an aggressive community-action group called Acorn, banks here and in other cities across the country have started making mortgage loans in neighborhoods they have traditionally avoided."

"Fees are lowered and lending standards allow even welfare payments and food stamps to be counted as income."

Fading Red Line, NY Times, March 14,1992 back in the days when this was being hailed as a great achievement, saddling poor people with loans they couldn't repay. Was supposed to help minorities, guess who was hit hardest by the mortage crisis...yah you guessed it.

No one pressure the bank to do anything. The banks loan the money because they can make a lot of money, which they did. Although the banks gone broke afterwards, the people in the bank that made money kept the money.

Yes, they did, and it's chronicled above in the NY times article. The vermin at ACORN calling banks racist that didn't give out loans to poor people, and eventually getting them to count welfare and food stamps as income?!!!! No one on either of those programs could possibly be considered for a home loan. Liberal idiocy gone amok. You're not being kind when you push for a huge home loan to someone who can't pay it back.

welll actually u have to realize that all of this is true. the commentary in this video is exactly what happens on wall street and the very same in London and Switzerland. its just actually quite funny how true all this really is. if your a banker you find it hillerious for this very reason. annd it is!

cant seem to find a guy who isnt a coward

what kind of loser says et al on youtube cameron6136

unfortunately the investment banking continues exactly as it has been before with banks spending millions on lobbyism and bonuses on sketchy transactions. The people must force the governments to establish new rules which can regulate a market which has been driven out of control of companies which are too big to fail.

Everything these guys joked about unfolded exactly as they had predicted.