Mo' Money, Mo' Money, Mo' Money

How Greedy Corporations Destroy the American Dream -- a short documentary that shows the foreclosure crisis affects everyone. Mo' Money tells the story of borrowers who were lied to and ignored by their mortgage loan servicers, and the people who are working to keep them in their homes. It also reveals how this disaster could have been avoided if regulators and government officials did not ignore predatory lending practices.

Category:

News & Politics

Tags:

• foreclosure
• subprime
• real
• estate
• housing
• bubble
• crash
• recession
• Greenspan
• Fannie
• Mae
• Federal
• Reserve
• Countrywide
• Mozillo
• Congress

[ryanwitski]

don't buy stuff you can't afford!

[ALR6002]

Nicely done. I would only add that a huge amount of the subprime lending that was being done was outside the purview of the Fed, and servicers are now in control of the modification process. They have no fiduciary obligation to act in the best interests of the borrowers.

[chemao1978]

@KendallMB I agree with you on the first point. People bought homes they couldn't afford. That's their fault. But they aren't suffering for it. Those of us responsible people are the ones suffering for it by having to pay off the loans that those fucking losers defaulted on. NOW, with that said, it was OBAMA and other government officials that pressured Fannie May and Freddie Mac into making all those bad loans. YES, the government is responsible.

[eathenicus]

@method6155 Well, it all depends on your definition of "poor", but in America "poor can be defined as having a salary less than 20,000 or something like that. If you're wanting to build things, like cars and tech then living in America is a bad idea. Ever since Reagan in the 1980s with his ideology to improve our economy; Reaganomics, the corporations has gotten greedy to the extent they move their factories to foreign countries like China.

[method6155]

Where are these poor people living?! (Sorry from Australia dont hear to much about whats happening)

[method6155]

Thank god someone else gets it. How can you neg? Its the truth! How can you own something you haven't paid for?

[awahl15]

I would contest these people didn't lose "their homes". Simply because it's not "your home" until you pay it off.

[DAVE70077]

never ever use a mortgage broker or a real esatae broker

[meccafuck]

shouldnt everybody have a home?

[bigdrm8404]

"Atlas Shrugged" by Ayn Rand.

I suggest some of you read it.

[KendallMB]

WAAAAAAAAAHHHHH!!!!! It is the mortgage companies fault that people people signed mortgages that they couldn't afford? Personal responsibility... the backbone of our great country has disappeared. Funny how you point out the fed as a culprit but you neglect to mention the Glass-Stegal Act in which the govt (led by Clinto and Frank) required mortgage companies to provide loans to unqualified borrowers. What about Freddie and Fannie? There is nothing wrong with these people becoming renters again.