Hightower's Guide to Sub Prime Mortgage Rip Off
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Uploaded by jimhightower on Aug 19, 2007
More info: www.hightowerlowdown.org! Hightower's simple, easy guide to explaining the looming disaster awaiting Wall St and Main St.
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Extremely good video!
eversincealways 3 years ago
Last time I checked, the banks and lending institutions were going out of business. Who's getting WHAT money?
The housing prices were (as theseeker2001 pointed out) due to NON-rich ordinary people's speculative buying, as well as states' desire to get more property tax revenue on the cheap. Housing prices were inflated artificially, and no one cared until reality creeped in.
These homes NEED to come down in value so normal, WISE borrowers can get in them.
cecilbdml 3 years ago
The OCC blocked states from regulating these predatory loans. There are laws to compel the lender to explain the fine print. The Bush admin PREVENTED enforcement of these laws by states who would have regulated the lenders. Documented truth should be above the level of argument
specifictender 3 years ago
All the poor borrowers so dumb didn't read the fine print? More like greedy borrowers choose ARM/IO on 2nd/3rd property thinking guaranteed money maker on flip in 2 or 3 years right? - wrong! Property investor fucks himself voluntarily - not my resposibility to bail out amatuer real estate speculators.
theseeker2001 4 years ago
I didn't get any help from ACORN.
Great Job on the Video!
notu286 4 years ago
You are right!
notu286 4 years ago
The subprime mortgage fiasco is another example of many consequences of the steady de-regulation of markets that has taken place over the past 25 years that have benefited no one but Wall Street, corporations and the financial elites. Is it a surprise to anyone that the bailouts that are now occurring are provided for the vultures and criminals, but not the victims?
polymath1944 4 years ago