Bush On Low Income Loans To Encourage Buying Homes


george bush talking about the sort of
uh… his plan to enable everyone on the planet even if they didn’t have a job to be able to get a mortgage that’s
where you talk about who would benefit from that and the single greatest burger
first-time homeownership is a high it is really hard for many many
low-income families to make the thing and so that’s why i’ve proposed first-timers fluid from the american
dream downpayment fund this what you should money texas money to help pay qualified low-income making and this is relevant to his one animals
or set off the democrats made us give a happy you know the spare money to
these low-income families fannie mae freddie mac freddie mae freddie mac the
democrats minister you celebrate emitted it was george w_
bush who ministered and his testimony you’re about a white and blues are set
for the republican party the with the republican is now why did
the defendant is a catalog of people just the fact that no up forever and the
bush bragging bike illegal whenever they ask that we
know for african-americans tuzla would come up you know i’m given money to uh… for
the overtures and so week buffet but it turns out of
course now we know the scam was that the higher in lower-income it is the last
down payment you have the higher the interest rate so the banks actually love
that they heard that in fact awhile the banks was punished just earlier this
week repeated eighty-five million are fine kazi encouraged everybody into
higher interest bigger risk laws that your bank will
give some of the long with a smaller downtown will slow down payment he cared about the law mandating repaid well then you wouldn’t do that by that
they didn’t care about that they cared about their commission on that day which
was hired the rose higher interest lower down payment by so when bush was
doing that he was in order for low-income people using it so the bank
is made more money topics that’s how the real world works demeanor
birds especially inner-city america for housing units attitude from old home ownership if people can’t afford a home terminated their is the complexity and
difficulty of the home buying process there’s a lot of fine print homies forms and uh… it bothers people it ok yeah is always in missouri but from the his
cell phone intended confident of that that i know that was somebody help me
with a buy now read after iran-contra we can have a catholic the world i think that was a great irony
of all this is that the problem under the consumer financial pressure more which this was a popular the fine print
so you don’t get tricked like they were doing in that program but he wants a
program that put more fine fred in that poorly church people for their money back by the way that
same so when i was telling you about you know for the people who lost their homes
because they couldn’t keep up with a mortgage payments that were too high
with interest rates the don’t worry dignity of seven
thousand or so so you crave also utilize our home but
don’t worry here just so there’s no settlement whether that bank of eighty
five million published within the top that off this quarter and i know it’s not the
same deal racers that they didn’t have an article but this quarter they may three point nine billion dollars doug bailey a million
dollars presented love pamela pak itself well is there any of the notes
that has complained about was a socialist and by the way the other homes
in turn around and say you know i can’t believe it is your
financial cushion for was obvious to most with the fine print

100 comments on “Bush On Low Income Loans To Encourage Buying Homes”

  1. redcrosseknightmusic says:

    @baalisgod666 maybe but everyone in the middle suffered

  2. The G Bear says:

    Ben + Cenk = AMAZING. Need more.

  3. Nick Triantos Music says:

    Cenk, thank you for coming back to the show and not on a webcam. This is the best news for rational people.

  4. FerFer1958 says:

    what nobody is talking about is this:
    Banks have smart people working for them.
    Banks accept small down payment, low interest "initially" and higher interests later (read fine print). This only means one thing: families won't be able to pay the house and banks will take the house back and they will be short in billions of dollars.
    But here comes Bush and friends: They must have told the banks that they were going to be bail out initially. No way the banks will do this without this condition.

  5. Stingerbillion says:

    I love how Cenk and Ben had good laugh at 2min 30seconds.

  6. Vurdox says:

    @Stingerbillion yeah me too…like old pals =)

  7. kzolly says:

    With all of this info at his disposal why does Obama keep giving the Republicans everything they want? Ans: He's a Republican too!

  8. Joshua Whittle says:

    This is all true enough, but still doesn't change the fact that people need to take a LOT more personal responsibility when it comes to their finances.

  9. rad3xl says:

    He's deeply missunderestimated.

  10. buddigabong says:

    I remember years ago around 2005-2006 Bill O'Reily mentioned increased low income home ownership as a Bush accomplishment lol

  11. Irene Johnson says:

    [email protected] print…does that dick Bush know what a fine print is? wow lmao lmao

  12. andrewsaccount09 says:

    this speech was really from June not May 2002, I looked it up on the UCSB Presidency archives.

  13. Flip86 says:

    @qwertyuiopaaaaaaa7 2001-2009 He served 8 years.

  14. zappp111 says:

    Republicans think if you weren't smart enough to lye, cheat, and steal your way into a political office, you are not entitled to secure retirement, healthcare for life, or just the dignity to dye in a hospital, witch is the "NEW AMERICAN DREAM".

  15. Michigan Bob says:

    I'm with you except for one thing. Low-income folks don't think about the overall cost of a loan at all. Its all about "how much will it cost me per month?". When you are living paycheck to paycheck, that's ALL your world is about.

  16. Juan Federico says:

    @BobFromMich Dead on.

  17. Adalberto J. says:

    @qwertyuiopaaaaaaa7 I just gave you your 100th thumbs up, you're welcome šŸ˜€

  18. 0MoTheG says:

    @FactChecking101
    "The single greatest barrier to home ownership is a high down payment… to help a QUALIFIED low income buyer"
    And in what way is someone who can not afford the down payment a qualified buyer? That is the idea of a down payment. History proves this to be a dumb idea.

  19. 0MoTheG says:

    LOL, did the guy actually write his speeches or where even his writers dumb?

  20. odsca says:

    Oh bush, you're such a comical comedian.

  21. iamsean90 says:

    Thats what every Government program is meant to do transfer wealth to the megarich

  22. Stargaze says:

    @qwertyuiopaaaaaaa7
    It was a very expensive joke, don't you think? hundreds of thousand dead, a nation in crisis, millions jobs lost, human rights violated more then ever..

  23. loupgarou5z3w says:

    Pumping up a housing bubble was an irresponsible & unsustainable source of jobs & economic growth. We'd be better off with more affordable rental housing for the poor, along with working to improve the pay of the working poor.

  24. Stargaze says:

    Cenk at his best here! Welcome back Cenk!

  25. 19TEC85 says:

    The answer- let the free market drive home prices down so that low income people can actually afford homes without the "help" of retarded politicians like Bush. The banks may not like it nor will the powerful housing lobby but its what needs to happen.

  26. greatbroad says:

    Prescott Bush is looking @ his grandson saying: "Heck of a job, W!"

  27. Tippersnore says:

    God bless Cenk for doing what he does and for telling MSNBC to go shaft themselves.

  28. psychokillercrab says:

    we dont have a govt anymore, we have a corporate master, Time for a revolution!

  29. FactChecking101 says:

    @0MoTheG My point wasn't that it was a good idea. It isn't. My point is, yet again, TYT lied.

  30. SpitfireOFatj says:

    @jag10 Wrong. What is it with you guys that you refuse to use the internet to look up facts? The Neoconservatives came out of Chicago. Led by Leo Stauss, they were anti-liberal and believed the masses need to be led by a ruling elite of Right Wingers using religion and nationalism. They were behind the recruiting of fundamentalists into the Republican party who didn't vote until their churches were infiltrated with anti-liberal, super patriot preachers that linked religion and politics.

  31. SpitfireOFatj says:

    @funkbrother216 What's funny was when they used to claim the Housing Crisis is from a program from the Carter years. As if the people on 30 year mortgages hadn't already paid off their houses 30 years later.

  32. Cassandra'sCurse says:

    The home owning "dream" was propaganda foisted on the American people.If you want a house,fine,but be prepared to make that house your sole focus for spending your money and time repairing,upgrading,etc.Everyone I know who owns a house spends his/her weekends repairing things about the house,every dime buying appliances,plumbing,etc.People have been so brainwashed into thinking that if you don't own a house by your 30s,you're a loser.I'd rather live in a studio in NYC than a McMansion in Iowa.

  33. Cassandra'sCurse says:

    @kzolly Sadly,the only major parties in this country are Republican and Republican lite.You have the Libertarians,but 9 times out of 10 they'll just vote Republican because their religion is that Big Business is God and that if you're not rich,you must be stupid and/or lazy and deserve to starve in the streets.There is no real party for the working man seeking a quality way of life.It kills the soul to know how owned all of us are.There doesn't seem to be much hope in sight.

  34. kzolly says:

    @elzakrasz – I agree completely! I came to this realization in 2007 and switched from Democrat to Independent…I just didn't want to be associated with a party that was so duplicitous regarding what it was really about. Back when I started voting in '82, the Democratic party still seemed like the one I learned about in HS, but now I know that its all about the money and not the people. I'll vote for any candidate as long as they're genuine and pro-citizen.

  35. squirrelflight says:

    At 1:10… does Cenk call him "Habush"?

  36. Seraphontrooper says:

    @Javis586 that might work in a meritocracy but America's economy is based on capitalism. also i assume you've either never been poor or had a lucky break in some field and have completely forgotten what it is like to be poor

  37. Lewis Wood says:

    ā€Ž1950s population/economy vs today. 30% children and/or college age, 15% Seniors or infirmed, 25% housewifes, and that leaves 30% Workers supporting the entire population. Today we have 60% workers and we cannot support our economy. Income disparity was much less, so economic success was more broadly spread around. So is America less than before?

  38. Cuddlebunzzzz says:

    @Javis586 the only people who believe you can be successful in America just by working hard are the people who've never had to work hard because everything has been handed to them.

  39. ShogaNinja says:

    American Politics = Kabuki Theater.

  40. bobbytiger says:

    This is why I love you liberals. (sorry…."Progressives").
    Never worrying about the facts.
    Every heard of Jimmy Carter. Redlilning? Title 8? Forced banks to make loans to the non-qualifying. But the heck with that, as
    blaming Bush is what y'all are all about, no?

  41. dizzymasekela says:

    George W Bush has never set foot within 200 miles of an inner city neighborhood.

  42. OtakuRebel says:

    Interest rates will one day kill humanity.

  43. BlackMambakins says:

    Did you all hear that…. Repukelicans heads just exploded! XD

    Did you hear that…. faux news says no no but our talking points say it was clinton's fault and them dayum liberal nazi marxist socialist and any other word they can come up with that sounds bad… XD

  44. BenRandomS says:

    it's official: Bush should just do ALL speeches

  45. SpitfireOFatj says:

    @jag10 Why is it you guys HAVE to ascribe "the left" with the oligarchy? It's like when you guys claim there's no such thing as a Right Wing Dictatorship because you claim the Right is all about smaller government and freedom.

    The Right Wing is all about obedience to authority. Liberals coined the phrase "Question Authority".

  46. Cuddlebunzzzz says:

    @Javis586 if "rock fucking bottom" is inheriting your rich daddy's fortune, then people who work 2-3 jobs and still don't make enough money to eat 3 times a day must be at the center of the earth. only a handful of people become rich through hard work, and that's only because someone else gave them the opportunity to be rich. millions of people worker harder in a day than you or i work our entire lives, but still stay dirt poor simply because they don't get the right opportunities.

  47. Panda says:

    @wesscoast What's ridiculous is that you have to get into unreasonable amounts of debt to buy a home.

  48. tomitstube says:

    when conservatives are ripping you off, it's called "free market solutions".

    when you fight back, it's called "class warfare".

    see how corporate media works?

  49. radargab says:

    Ridiculous. How close are we to the story where Cenk just bursts into tears from encountering so much idiocy.

  50. Cuddlebunzzzz says:

    @Javis586 not if you have kids and your income isn't enough to support them and yourself. i've been in that situation and personally know others who have been in even worse situations that i have. i don't get this stuff from TV, i get it from experience. the homeless people you know are more fortunate than many, including the few i've personally encountered.

  51. Iā€™m Not A Gamer says:

    @underbjorn It's simple, really: don't buy stuff you can't afford. Unfortunately, too many people in this country can't grasp that concept.

  52. SpitfireOFatj says:

    @funkbrother216 A lot of things don't occur to them because they can't think for themselves. If FOX "News" and Right Wing talk radio vanished overnight they would be lost. I've seen where something happened on a Friday and the Dittoheads had to wait for Rush's show on Monday before they could respond.

  53. tyrannosaurusinf14 says:

    jesus…i'd forgotten how idiotic this man sounds…

  54. Ultra80s says:

    G.W. Bush giving fiscal advice to low-income folks?

    *head assplode*

  55. Tripp393 says:

    "I know the human being and fish can coexist peacefully!"

  56. tedfreeway says:

    @wesscoast You realize Pelosi and the Democrats loved this deal as well? It was bi-partisan lunacy.

  57. Cassandra'sCurse says:

    @kzolly We(and that's people of every party)should vote based on the issues and not out of party loyalty.Sadly though,no one besides a candidate of the Big 2 stands a chance of actually winning a presidential election.Hopefully,an independent will come along who will support the basic rights of the common man and will strike fear into the hearts of the established parties.Michael Moore swore that if Obama screwed the American people over again he'd support an independent.Let's see,shall we?

  58. eightbit Alistar says:

    as soon as i heard Bush i was like i need something to brighten my day šŸ™ and there's a lot of fine print šŸ™‚ TY TYT

  59. Cuddlebunzzzz says:

    @Javis586 first of all, i was the kid in the situation, my mom was the one working 2 jobs. 2nd, we were doing well during my early childhood, then we became poor due to circumstances beyond our control. so it wasn't our fault we were poor. finally, we aren't in that situation anymore because we had opportunities to get out of it, not because we worked hard. many of the toughest jobs in the world don't pay enough for you to become rich. wake up, the American Dream is a lie.

  60. Diereid76 says:

    I wish I had this video a few years ago.

  61. A86 says:

    I fucken hate how Chris Dodd, Barney Frank and the Democrats get practically all the blame for the 2008 Housing Crisis while George W. Bush, Hank Paulson and the Republicans got out of this practically scot-free with little public blame. Both parties are to blame but the Republicans, who are as much to blame as the Democrats, are practically forgotten in the public mind as being at fault for the crisis.

  62. A86 says:

    Everybody talks about CRA loans and Freddie and Fannie and YT videos about them have millions of views but everyone's practically forgotten the "American Dream Initiative" and Bush's "Zero Down Payment Act". Those videos have only a few hundred or thousand views.

  63. Ran dy says:

    @GJNCA 2:30!!
    I also think he realy honestly had the "idea" of helping ppl not understanding he actually pushed foreward the "too-big-to-fail-creation-aganda"….
    I bet those having destroyed Glass-Stegal were "advising" him.

  64. JEFF9K says:

    Some "ownership society!" Under Reaganomics, everything is owned by 1% of the people!

  65. MissNophi2U says:

    2:17 !

  66. Dayonetheone says:

    His Smug laugh pisses me off… but makes me laugh all at the same time…

  67. Cuddlebunzzzz says:

    @Javis586 freedom for who? ever since the beginning of this country, there has always been some group of people who as been oppressed by a group of free people. it is nothing more than a dream for most of us, because those who are already free will do their best to make sure we remain subservient to them.

  68. superphi says:

    Hold on democrates blame Bush for giving loans to poor pple so they can afford their own home and now bitch about not giving loans to poor pple to start their businesses.

  69. Cuddlebunzzzz says:

    @Javis586 compared to most underdeveloped and war-torn countries, yes we do have plenty of freedom. but compared to most other industrialized nations, we're lagging behind. we're the only industrialized country where you can be left in the streets to die for simply not having enough money. can't really say we're the most free country if that's going on.

  70. gerloczyek says:

    @tommysch talking about a country where income to loan ratio is near highest in the industrialized world, where a property bubble larger than that of the US peak in 05 is about to burst… hold on to your hat!

  71. Marco A. C. says:

    hehe Javis586 still buying that crap…

  72. Iā€™m Not A Gamer says:

    @underbjorn Prairie.

  73. kzolly says:

    @elzakrasz Obama tried the tough approach tonight, but he's talking tough on compromise. While I understand his "balanced" measured approach, its not warranted given that the others aren't bargining in good faith. Here's hoping a viable Independent candidate comes along soon!

  74. dsgregg says:

    Great clip. GO Cenk !!!

  75. Jonny Deth says:

    So he wants everyone that exists to take on a debt that can ruin their lives for decades. What a charming, intelligent, well rounded and deep thinking BANKER!
    Who cares with what congress, what party, what minority fringe group!
    Why does the poor African American need referenced in the spotlight?
    Really think about what you're saying, they are exploiting the debt and debt credit system. You CAN NOT own a home under the debt currency system we call money but is not capital by definition.

  76. Jonny Deth says:

    Everyone in government takes us further into socialism because when your money can not by definition exist as capital and their is no capital as a bank loaning capital can run out and not make such lavish loans, tell me what politician you trust?
    Because they are ALL forcing you to exist as a socialist slave while they bask in riches that exist from your loss. Nothing extra exists, it must be taken. The celebrities in Hollywood use the same system and do it to us too.
    MONETIZED SIGNATURE LOANS

  77. Mr Zorg says:

    I kinda miss his complete idiocy

    BTW, he's talking about socialism. Ironically, the democrats are bigger idiots for not even mentioning this once

  78. SSTTEEAALLTTHH says:

    For anyone who likes a good laugh, George Bush' mouth is the gift that keeps on giving.

    You know what, US? For all the disgusting things this guy did and authorized, although I'm sure Cheney and others were the brains behind those, at least we got a good laugh out of this guy, you can't deny that.

  79. timoback3000 says:

    Ether! This is why Bush should shoulder most of the blame

  80. LtShock says:

    Everytime I listen to Bush talking I lose IQ points.

  81. RedandBlue America says:

    Banks were selling Interest Only loans, ARM's, Balloons, Reverse Amortizations, etc. It was not the lack of down payment or high interest it was the way these loans work. The trouble began prior to 2002. Obama is making lending institutions get many of these borrowers (who inquire) out of bad loans and into good ones with the lending institutions taking most of the loss. This is part of the Stimulus Package. Making Home Affordable. 1-888-995-HOPE

  82. deepshockonYT says:

    @LtShock For me it's every time he opens his mouth. Even to yawn.

  83. SpitfireOFatj says:

    @jag10 You still don't get it. Chuck that whole "New World Order" paranoia and look at the fact that the Republicans are desperately trying to cling to the Reagan legacy that only exists in their fantasies.

    The Reagan years were pure poison to America. Between it's criminality, corruption and economic failure the Republicans HAD to rewrite that time or none of them would have worked in Washington again. They've repeated the fiction of the Reagan years so much they believe it themselves.

  84. jonathan ellis says:

    promote home ownership through higher wages.

  85. Sir Hatchporch says:

    2:16!

  86. WorldGreatest1 says:

    LOL George Bush was all types of awesome. I miss hearing him speak.

  87. Shane S says:

    @pennjersey83 Cenk and Ben hate Obama you don't know what you're fucking talking about troll

  88. s99bf0c8 says:

    2.05 to 2.40 in this video is very funny!

  89. Voltaic Age says:

    Oh how I miss this man in some ways. At least I could hate the president who didn't get my vote.

  90. Adeleke Eko says:

    Cenk's Bush impressions are HiLarious

  91. Lukas says:

    @adeleke27 Just what I was thinking.

  92. Sharon Eastman says:

    @tedfreeway that'snot accurate- Pelosi and the Dems approved a plan that still check employment- tax returns- ect What happened during the Bush admin this is not accurate- He pushed no docs- no employment verification's via private lenders- the subprime mess- it isn't because of FHA- ect you still have to qualify for government loans-

  93. Anti Hypocrite says:

    Every one thank Bush for f=ing over America. Put Bush in jail.

  94. jpkm123 says:

    @tedfreeway yeah but TYT won't tell you that

  95. Jennifer Cribsly says:

    We're still dealing with the after effects.

  96. Bishwa Raj Bhandari says:

    Hey, at the time I told my buddies that I was planning to go earn a living online, they teased me. But shortly I showed them my income. Go and Google "Phantom Cash System" to learn the best ways to make money online.

  97. Bayhuntr says:

    Maybe TYT didn't tell you that because he couldn't find any evidence proving it? You know, he isn't known for just blabbering BS out of his mouth without backing it up. Oh, I'm sorry, you and tedfreeway don't understand that concept.

  98. Jeff Chang says:

    factcheck (dot) org/ 2008/10 /who-caused-the-economic-crisis/

  99. Bayhuntr says:

    "…Screwing it up takes a great deal of cooperation. Claiming that a single piece of legislation was responsible for (or could have averted) the crisis is just political grandstanding"
    It was still mostly one party. The 8 years leading up to the crash, Republicans had complete control all but the last 2 years. Bush pushed the loans knowing the banks would make out, the risk was only on the middle class. Also, if Bush hadn't run up so much dept we would have been in a better place to fix it.

  100. Al gee says:

    Totally correct. There were Mortgage back securities before. This was the start of the mortgage crisis. Next Greenspan is encouraging people to borrow on their homes.

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