The Long Johns - The Last Laugh - George Parr - Subprime
Posted by on 3rd, 2008
Broadcast on 14/10/2007. John Fortune & John Bird on the South Bank show.
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The FED regularly raised rates for years, until mortgage holders could no longer pay the rates. Now that millions have lost their homes, the FED is regularly lowering rates to save the bankers.
Tens of billions in welfare to the banks while millions of people are thrown into the street. That is how capitalism works.
May 4th, 2008 at 12:12 am
my communist russian professor recommended we watch this bull shit. thanks bitch way to waste my time
May 4th, 2008 at 12:12 am
Excelent way to set the suprime turnmoil.
May 4th, 2008 at 12:12 am
THATS BULLSHIT.
I was a subprime broker and I know.
There are many causes for the crisis but the main cause is that subprime mortgages were allowed to become stocks wrapped with securities.
On a macro level, the problem is that homeowners WERE NOT SMART ABOUT HOW MUCH THEY WERE BORROWING - ADDED TO THE FACT THAT Loan Officers were GREEDY and willing to loan them as much as possible so they could increase their broker fees and thus their end commission.
May 4th, 2008 at 12:12 am
Sub Prime debt?Why dont they call it by its real name “Cunt Loans”.Also,anyone who has seen the pig faced scum that work on the dealing floors of all stock exchanges will know that this downturn isnt just about Cunt Loans -its also about putting your economies in the hands of greedy self opinionated fuck wits that couldnt care less about their own mothers,let alone anyone else.Theres also the little matter of $billions being wasted on blowing up Iraq and Afghanistan-but thats a whole new story!
May 4th, 2008 at 12:12 am
Most of the comments here show an almost dislocated view of reality: the people who were issued these mortgages at punitive and usurious rates are being blamed for what was another parasitic scheme by the bloated financial services sector.
May 4th, 2008 at 12:12 am
Great..!!
May 4th, 2008 at 12:12 am
and ojo ojo who got the high prices when selling the now boarded up houses? This can be traced.
May 4th, 2008 at 12:12 am
Clarence ,its probably Alan Greenspanner stuck in the works.
May 4th, 2008 at 12:12 am
great
May 4th, 2008 at 12:12 am
brilliant. and of course Bear Stearns has now collapsed. ingenuity of the market my ass. those mortgage people shoul db e behind bars
May 4th, 2008 at 12:12 am
Huge!!! The last statement is a killer.
May 4th, 2008 at 12:12 am
fabolous
May 4th, 2008 at 12:12 am
Do yourself a favor and do your homework for real…check out Money Masters or zeitgeistmovie. c o m
It is so sad that so many people have NO idea what is happening…and has happened to bring us to where we are now.
May 4th, 2008 at 12:12 am
ironic but apt..thanks kneeslasher
May 4th, 2008 at 12:12 am
Very clever! Well worth watching
May 4th, 2008 at 12:12 am