the Government Housing Scam…
What’s next? I’ll tell you what’s next… The mortgage “crisis”. The housing “crisis”. First of all, it’s NOT a crisis. it’s a scam! By the liberal mainstream media and the government in order to try and get responsible people, to pay, for irresponsible peoples mistakes. I’m going to solve the problem for you right now. Okay? They keep saying how the freaking prices of houses are going down. The prices of house are going down! The prices of houses are going down! We have to bailout the freaking mortgage industry. The prices of houses are NOT going down! If you have a house that is worth 200000 dollars. it was ALWAYS worth 200000 dollars. You thought it was worth 400000 dollars over the last couple of years. Why? Because the government artificially inflated the housing market. They went to Fannie Mae and Freddie Mac and other mortgage companies and FORCED them to give loans and mortgages to people who couldn’t afford to pay them back. People who never should have had them to begin with. So now you have all these people in the freaking housing market that never should have been there. In turn, builders started building more houses to accommodate these people. it was an illusion! It was a facade! The buyers didn’t exist and the houses didn’t need to be built! Let’s say this. Let’s say you sell oranges. You stand on the corner and sell oranges for a dollar an orange. Then, all of a sudden, the government comes in and they starts giving people money to buy oranges. You have …
Video Rating: 4 / 5
your awesome
this guy never gets old. i haven’t seen a video posted by drinkingwithbob that i could disagree with.
thanks bob!
hahahaha
Anything, ANYTHING the government touches turns to shit.
Where are you getting the facts to support all of this???
last year in april, they’ve demolish bunch of the newer homes in Victorvill C.A. , and some of the house has been unfinish some are models home displayed and if more homes goes forclosure, and nobody buys it at all so they destroy house, pariently its a crisis no longer a scam so its been happening allmost every day. and the house that was $300,000 are now $150,000 and will never go back up untill 2013. would we have a second chance to live in 2013 or would we all be dead? who knows?
Lay off the caffein buddy, shouting house isn’t going to do shit because the dollar is getting murdered as it is.
@weaponX1 – damn straight. I always wonder about these hysterical types insisting home losers were irresponsible. WTF – do they think the loss of insurance and medical bankruptcy is a lie? Insensitive bastards!
Awesome video! I just want to get a home loan on a house that is a lot bigger than I can afford; you all can help make the mortgage payments! And, their is nothing about socialism in this! LOL
He has hit the nail on hte head. He’s telling on the criminal corporate thugs. Keep talking and keep it up.
good one
do you got any eye brows?
@30percentplusreturns Yep, it’s NObama’s gift to all the homeys. His dream. Nice. Pretty soon we’ll be run down like South Africa is now.
So we need to design our own houses?
Yes man! People finally need to understand that derivatives are the main cause of the economic crisis.
right on bob, unless you can afford to pay a house off in one year, don’t go into housing market, no matter how small or how cheap the house is, don’t buy that house unless you can pay it off in one year because even though you have a job, your at risk, because if you loose your job, you won’t pay your morgage, and you’ll have to leave the house and go rent or move back with your pairents, friends or relatives.
Economy SOLUTION
there is a fix. ONE FIX. before a global depression. and it is simple and can be accomplished overnight. Starting at noon today NO money can any longer collect INTEREST !
sit back and watch people buy cars homes pay off their mortgages build businesses create free markets and enjoy sharing with other countries rather than existing on a military economy necessitating? bombing them.
Too simple for arrogant wealthy politicians and Banks to comprehend.
i would honestly vote for this guy for president
i dunno y but i think you should be the next doc brown if they remake bttf coz u remind me of him when he freaks out…. 1.21 GIGAWATTS!!!!????
This guy is far more intelligent than he comes off……it appears he researches his topics quite thoroughly before airing his complaints…….I like him
75% of loans were fraudulent from the Banks and lenders ! – Google FBI+Subprime+fraud
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During the Clinton Admin., in 2000, because of a -’re-assessment of the housing market’- by HUD, “anti-predatory lending rules were put into place” that “disallowed risky, high-cost loans” from being credited toward affordable housing goals.
cont
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During Bush Admin., in 2004, these rules were dropped and –‘high-risk loans’- were again counted toward affordable housing goals.
…
2003 the Bush Administration .., created a new agency .. within the Treasury Department to assume supervision of Fannie Mae.
Bush’s -’Ownership Society Program’- … encouraging and [Federally Subsidizing - poor people get -'grants'- to help with down payments and closing costs].
cont
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The act authorized $200 million dollars per year for the program for fiscal years 2004-2007.
President Bush also tripled the funding for organizations like Habitat for Humanity that help families help themselves become homeowners through ‘sweat equity’ and volunteerism in their communities.
Substantially increasing, by at least $440 billion, the financial … involved in the secondary mortgage market specifically targeted toward the minority market.
Cont.
…
75% of loans were fraudulent from the Banks and lenders !
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Bush transferred Freddie … etc. to the Treasury; campaigned on the _”Ownership Society Program’- -‘for minorities’- in 2004, Repub. Congress funded it [-‘gave’- grants for down-payments and closing costs].
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Wall St. knowingly [fraudulently] packaged them – paid the rating companies [S & P, Moody’s, etc] to falsely represent them
as equal to Triple A securities = to Govt. bonds.
And destroyed the world economy !
Hey, I found some more of these videos here on this website:
m0ar [DOT] org/2794
(Replace [DOT] with . ) – Pretty cool stuff!