Chase Pushed Minorities Into Subprime Loans – Former Banker


the former chase banker his name is
james specs than any softening to the new york times reporter nick christoph and he told them how chase would uh…
systematically target minorities in this country to make sure that they got higher paying
loans which basically then robs them of money even if they qualify for regular
lows will be called prime loans because they want to make a bigger
commission in fact elect christoph explain as he talks to
his uh… christoph explaining facts of
quote one memory for chile troubles that sent
this is a sonic at executives earned a commission seven times higher for sub-prime loans
rather than prime mortgages so they look for last seven or oris does not let says it isn’t without previous mortgage experience or without influence english and nudge them towards sub-prime loans so you understand what’s happening there uh… there’s igate seven times the
commission from the riskier loans so they have all the instead of the world
to make sure there are more moral riskier loans now that may seven mockery of the
republicans issued button government in barney frank and freddie
mac and fannie mae made these bankers give out the risk your loans the
minorities no nagel also my doors because they were
making seven times more from that a lot of those minorities actually
qualified for better loans one of the given the riskier ones because they were going to keep the risk
your lives there which is given to someone else anyway and they may seven
times a commission he goes on a sweat again quoting chris
on the new york times these last seven or hours were disproportionately blacks
latinos he said end up paying a higher rate so they were
more likely to lose their homes series again seemed aware of this racial
mismatch he recalled and frantically trying to cover dot now that gives you two different things they like you know what we know the
minorities are easier to trick sometimes because of disproportionate lack of
education socioeconomic status at sunrise of latinos they’re not fluent
in english great easier to trick them to give them the risk your loans where
they have to pay more money every single month and we make a higher commission
but we know we’re doing it so we’re gonna try to cover it up now let’s go to a direct quote from sex
and himself as the former banker he says the big ways of the corporations knew
this but they figured we’re gonna make billions out of it so who cares the
government’s going to bail us out and the problem loans will be out of here maybe even overseas so as i said to you and with this went
on the show many times after they made the most people like chase wrap them up instead of two other
companies sometimes overseas the german investors
japanese investors russians et cetera and sometimes they didn’t shop about
more ease up a fannie mae and freddie mac i left it on the north side of the
american taxpayer they like so the more star primoz we can make the
batter so let’s go try to find some people we can rock okay so they do that and of course they
wind up uh… with results like this so who
received a high price loans sixteen percent a white borrowers now
that’s outrageous but when you look at the rest thirty three percent of respect for
hours and fifty percent of black for so although i doubt we had a minority
right let’s take more money from that by giving them last year lows which by
the way is also more likely to blow up on that hahaha and that was covered up well i companies the saving hooding
wells fargo you know what they used to call those loans using they didn’t know what they were
doing let’s look at it what the result of this was when u look
at it and i heard the biggest who run the minorities after the crash that’s seven point seven holly in
dollars in loans from the fat they’ll get another seven hundred
billion dollars of course from far and in the end they can’t make out like bandits again
it’s a lot more as the extra money for doing a robbery you wonder why people are angry and uh… what was a result for uh… latinos et-cetera and then minorities well twenty five percent of looking at
african-americans lost their homes the foreclosure or seriously delinquent well compared to only twelve percent of
white borrowers so it twice the rate where you will see
you lost your own sat april you the magazine is still all this money off it really is they got as like
etc stand there for you or even been present no model elizabeth
address all of the strike so he put together a program that would help you
with your mortgages how much did that program get it well so far only two point six billion
dollars of that money has been spent so if you are the ones who got robbed
you’ve got two point six billion dollars in aggregate if you are a lot writing whereas the magazine rather you’ve got
the seven point seven trillion dollars that’s what people are mad about hey you know what and then you people wonder why cornel west would
have a smiley get upset of the president we’ve you know our president is black i
know people remember right now i don’t want any special privileges
for blacks or latinos are not black or latino why would i posed by the bread
which is weapon for idle even equality for everybody but look at least a black president should
be able to empathize with things like this but instead he
went along with the bush administration than what they were doing indeed
everything on the robbers along with ken barris treasures sector
of course you came up with a slow concoction under both administrations and then give dando crumbs off the table minorities who arrived in the first
place so when do you know cornel west or or
travis smiley says whether what was the flight what what something great thing about a
black president that is a very fair point what are you telling where’s our help but what i said well i mean the ninety
nine percent well was it not rob

100 comments on “Chase Pushed Minorities Into Subprime Loans – Former Banker”

  1. General Obi Wan Kenobi says:

    @katsumorymoto If you THINK so, then I suggest your tap water tested for lead as you are obviously an imbecile.

  2. General Obi Wan Kenobi says:

    @politicalratfinder Forced? Did you not just hear what he said? Have you been living under a rock? Where have you been since 2000 if you THINK it was the Democrats? Everything you just said is bullshit.

  3. Straightshooter513 says:

    Greatest scam in the history of the United States! Give Minorities loans you know will blow up because of the interest rates, package em up into securities and sell em around the world, Bet against em, Pocket Billions of dollars when they blow up because you bet against em, hold a gun to the taxpayer head and demand a bailout, Use the 7.7 trillion dollar bailout to make more money, Lay off 8 million workers and dismantle Social Security, Medicare, Medicade in the process. OFF WITH THEIR HEADS!!!

  4. Rusty June says:

    Ridiculous that one of the top comments is saying that this video is some type of racist cruelty and Cenk is some type of irrelevant person. Oh shut up! Seriously, saying Cenk is some type of racist is so stupid on so many levels. People like sturos1 think anyone even talking about another race, no matter what the subject is, is a racist. Example: The Japanese love fish <RACIST The Chinese have an exotic culture<RACIST Mexicans are hard workers<SUPER RACIST Africa has an aids problem<RACIST

  5. frigginjoe says:

    I don't know how they didn't get caught on this sooner because even the authorities are minorities.

  6. Barded Wyrm says:

    Entirely aside from the content of the video, the subtitles were often hilariously inaccurate.

  7. bgt125 says:

    @politicalratfinder Name the LAW that forced Well Fargo, Leehman Bros, Goldman Sachs,ect to hold 83% of the toxic sub-prime loans (according to the Congressional Budget Office and numerous news sources including FOX!!) when the housing market blew up. You know why you can't? The fed. gov. didn't force ANY of those loans by law. 100% lying bullshit. The best part is Newt Gingrich made 1.6 MILLION LOBBYING FOR FREDDIE & FANNIE according to FOX news as well! LOL

  8. rsty614 says:

    @theUSER101 YOU are the one who said that socialist programs never work in the long run which just isn't true! there is nothing in the constitution saying we need to privatize health care! you do realize monopoly means one company right? so the government allowing "monopolies" in one market is contradictory to your sentiment.

  9. rsty614 says:

    @theUSER101 the bailouts are because they are too large to fail, because the repeal of the glass-steagall act in 1999 got rid of valuable regulation that protected the markets. Also being able to gamble on their own losses because of no regulations through credit default swaps and derivatives. Your logic is backwards, the companies lost all their money BEFORE they got bailed out, unless you think regulation caused the companies to lose all of their money and go bankrupt?

  10. rsty614 says:

    @theUSER101 I run my own business, and anyone who thinks that there are no risks in business doesn't know what he is talking about; the basic problem of your dogma is that businesses in this case banks take no responsibility for being bad business people, if I make horrible decisions and make bad risks and run out of money and then a friend bails me out, you would say "well you wouldn't have made those mistakes and risks if it wasn't for your friend who gave you the money afterwords"

  11. rsty614 says:

    @theUSER101 over 65 U.S. banks have become insolvent and have been taken over by the FDIC since the beginning of 2008. Combined, these banks held over $55 billion in deposits, and the takeovers cost the federal government an estimated $17 billion.
    If your theory is that the bailouts caused the bad business behaviors then why did it happen in 2008 and not 1998 or not 1988 or not 1978?

  12. rsty614 says:

    @theUSER101 the answer is because before 1999 commercial and investment banking were not allowed to join, do you understand the implications of this? if a commercial bank invests riskily, and the money they are using is coming from clients depositing money, and they lose these risky bets then they must be bailed out. even allowing these banks if you regulated how they bet the money you could have prevented the bailouts

  13. rsty614 says:

    @theUSER101 "every company is greedy…if you give them the chance to maximize profit, they are going to do it" and it is up to the govt. to make sure that doing whatever it takes isn't inherently unfair nor endangering our society, by setting up regulations…

  14. rsty614 says:

    @theUSER101 name the social programs that have ended that way.
    I don't think you understand what universal health care is, please define what you think that means…
    if you are speaking about socialized medicine, then you are entirely wrong, socialized medicine would be replacing insurance companies not people in the medical field…insurance companies do not create medical advances nor influence them

  15. rsty614 says:

    @theUSER101 Since you're a big business buff and may have even taken some business classes, you should know that 90% of innovations come from small business not big business, in this particular case research centers that try to find cures are not related to hospitals/doctors that would negotiate prices with the govt. your local hospital doesn't waste money trying to find medical advances, nor does your doctor.

  16. rsty614 says:

    @theUSER101 you do realize that the banks are paying a lot of money to get the government to cut regulations, doesn't that support what I am saying?
    If elected: Elizabeth Warren, Alan Grayson, Russ Finegold

  17. daguzify says:

    1. Sweden offers Universal Healthcare and they have a growing economy and are pulling out of this mess faster than us. 2. Swedes prefer that everyone is covered and realize waiting time for some surgeries may be longer……imagine that, Atheist acting more Christian than Evangelical clowns. Evangelical fucks want a certain few to have all the conveniences while the rest watch their kids die of cancer because their insurance called it a "pre-existing" condition.

  18. nsakic says:

    Some of the blame lies on the person signing on the dotted line. First, you should know what you can afford, then, you should know what is going on in the market. Who is getting what rate, it is your job to find that out. So, if you are getting stiffed, you can bring it up, hey, I have a good credit score, why am I not getting the rate as that guy who has the same score as mine. If you jump in blind, then don't be surprised if you get screwed!

  19. General Obi Wan Kenobi says:

    @katsumorymoto So forcing people into loans that are impossible to pay off, when they qualify for much better isn't injustice? Pillaging our economy then demanding a bailout that the tax payers are forced to pay isn't injustice? Using money and lobbyists to influence government policy in your favor and against the rights of the people isn't injustice? I'm not a Liberal, I'm a Constitutionalist Patriot. And these banks have gone too far and have destroyed our rights for money.

  20. Emmanuel Rodriguez says:

    My employer never ceases to amaze me.

  21. DB Hero says:

    Wow what the fuck this is so evil…

  22. yuukisama2001 says:

    I'm very aware of this. As I've known people that deal in real estate. I have family that deal with real estate. One thing I've heard that if you don't know your homework when buying a home you will be screwed. Think about it. At one point in time you couldn't get a CC unless your income was above a certain level. Now they push CCs on anyone stupid enough to apply. Not to mention flood your mailbox EVEN if you already have one. Especially college kids.

  23. R4t10n4L says:

    @Straightshooter513 Bill Maher commented a while back that we should hang the top executives from the stock exchanges – that's a bit bloodthirsty for me but after reading about all the fallout, perhaps he has a point.

  24. R4t10n4L says:

    @politicalratfinder Phil Gramm, Jim Leach, Tom Bliley – all Republicans, forced a bill that allowed partial repeal of Glass Steagal and Gramm was the point man in getting credit defaults swaps exempt from SEC regs and for the creation of the "Enron Loophole".

  25. endergt says:

    The camera moves such as your opening shot in this clip are really bad. It's like your producer wants to emulate shows like The Daily Show or Colbert Report, etc but doesn't really know how. I love the show, and think it IS real news – but you've got to get rid of these bad camera moves so you don't lose credibility with some people (not me, but some people do take such things into account).

  26. rsty614 says:

    @theUSER101 In 1971, Akira Endo, a Japanese biochemist working for the drug company Sankyo, began the development of statin drugs, he even won the Lasker~DeBakey Clinical Medical Research Award…
    A canadian orthopedist Frank Guston started total knee arthroplasty (1972)…
    Sir John Chanley of England is credited with the birth of total hip replacement…
    drugs are owned by a company anyway not a country and are then sold to many countries to maximize profits

  27. rsty614 says:

    @theUSER101 I didn't say socialist societies i said "name the social programs" that end with people in the street begging for money…
    Greece has a capitalist economy with the public sector accounting for about 40% of GDP and with per capita GDP about two-thirds that of the leading euro-zone economies…
    I don't mean to embarrass you, but stop letting your convictions sway the facts and let the facts develop your convictions

  28. rsty614 says:

    @theUSER101 once again universal health care does not = socialized medicine, they are two different things, universal health care forces everyone to have insurance, not government run insurance, its very similar to how car insurance works

  29. wlljon7 says:

    Unchecked, unregulated, unethical capitalism is not capitalism at all. It's gangsterism. And the smartest gangsters learn how to work the system so they either don't get caught or if they do they have managed to twist the law just enough that they haven't broken it. When the buck becomes all the "in god we trust" anybody can count on, then forget about living in a decent society. Survival is all, the predators rule, and the rest are just food on the chain.

  30. Sondra Edwards says:

    This is true. I worked for Chase (and Washington Mutual before Chase took over) and we were paid significantly more for negatively amortizing loans – many of which caused people to lose their homes because they didn't understand how horrible the loan was and that it was going to blow up in their faces in five years. Anyway, the guy who used to be one of the Big Deals for their sub-prime unit (Long Beach Mortgage) is now a Big Deal with the Foreclosure Prevention Program (what a joke that is).

  31. cityking9ne says:

    @brandnutopian LOL!!No darkskinned white people go to Harvard.

  32. May Dae says:

    I never comment but that was a good segment thank you

  33. drinfested says:

    @Straightshooter513 That's a pretty complete picture, thanks.

  34. brandnutopian says:

    @cityking9ne You're a dumbass, no matter the color of your skin.

    You're an uneducated buffoon with an axe to grind, too deficient to even reason your way out of a wet paper bag.

    You equate being black with being undereducated and "of the street" or some such nonsense. Grow the fuck up, homey.

  35. rsty614 says:

    @theUSER101 ok I copied and pasted that info about greece from cia.gov, does that sound like liberal propaganda to you?

  36. rsty614 says:

    @theUSER101 This is going to be fun: ok using the 2011 index of economic freedom which apparently means a lot to you, US is 9th behind Denmark 8th
    Denmark has Socialized medicine let's delve further:
    The Danish health care system is not cheap. According to OECD's Health Data 2009, Denmark's health cost per person, public and private, was $3,512. But in the US the cost is more than double at $7,290!

  37. rsty614 says:

    @theUSER101 In addition, Danish health care covers everybody – 100 percent of the population-while in the U.S. fewer than 80 percent of citizens are covered, and often only partially.
    So basically the U.S. system costs more than twice as much and still covers a fifth less of its population and the people covered are usually not even covered fully

  38. rsty614 says:

    @theUSER101 So what makes Danish health care so cheap? It's not because it's of poorer quality. It uses the most advanced methods available anywhere. And per capita there are more hospital beds and doctors than in the U.S.
    It's mainly cheap because it's a lot simpler to manage. There are no medical insurance companies or lawyers operating for profit, or financial background checks

  39. rsty614 says:

    @theUSER101 The pharmaceutical industry still gets its fair share since medication is still bought on the free market. This rewards innovation.
    In the U.S., health care financing is siphoned off by lawyers, administrators, and insurance companies; the cost of lobbying lawmakers and advertising is astronomical.

  40. rsty614 says:

    @theUSER101 you talk about health care being free as if you don't realize that taxes pay for it, or the government can offer a public option where the purchaser still must pay a premium which blows a whole in your "if its free demand is too high theory" – the right to police is free and if demand is too high for you, you can hire a private security firm to protect you

  41. rsty614 says:

    @theUSER101 so to recap US is 9th, Denmark (socialized medicine) 8th, Ireland (socialized medicine) 7th, Canada (socialized medicine) 6th, switzerland (universal health care) 5th, New Zealand (socialized medicine) 4th, Australia (Socialized medicine) 3rd, Singapore (socialized medicine) 2nd, Hong Kong (socialized medicine) 1st
    and before you cry about liberal propaganda, just remember that you are the one who thinks this ranking matters

  42. rsty614 says:

    @theUSER101 Hong Kong is one of the healthiest places in the world. Because of its early health education, professional health services, and well-developed health care and medication system, Hongkongers enjoy a life expectancy of 85.9 for females and 80 for men, which are the second highest in the world, and 2.94 infant mortality rate, the fourth lowest in the world.

  43. rsty614 says:

    @theUSER101 Hong Kong has high standards of medical practice. It has contributed to the development of liver transplantation, being the first in the world to carry out adult to adult live donor liver transplant in 1993.

    The U.S. is the only industrialized country in the world that does not support universal health care for its citizens

  44. rsty614 says:

    @theUSER101 and for the record cuba is a socialist country and it sucks, I am not for a socialist country and I am a capitalist who runs his own business, you can't be successful with either extremes, a corporatist fascist society nor a totally socialized society, you need a balance of private and public sectors – example: health care, education, military, law enforcement, fire departments should be publicly funded by taxes

  45. rsty614 says:

    @theUSER101 is socialized medicine a perfect system? no, are there long lines for major surgeries? yes, but that is why you still allow private insurance to exist in the market, a public health care option that you can pay into would add competition to the market place for private insurance to lower prices; the education system isn't perfect, but if you want better education you can pay for a private school
    the USPS is a publicly funded mail service, but it creates competition

  46. rsty614 says:

    @theUSER101 I said they have socialized medicine not that they are socialist countries, I said I would want Elizabeth Warren to sponsor the bill, and would love Russ Finegold and Alan Grayson to help with it if they are all elected next cycle

  47. rsty614 says:

    @theUSER101 if you cut military spending, and raise taxes to pre-bush levels for the top 5% of income earners the us would start increasing revenue $278.4 million dollars a day, plus I think you raise taxes to pre-bush levels for the rest of the population and we raise even more revenue, are we still in debt? yes, but our country has been in debt since our conception, and our economy has thrived even in debt

  48. rsty614 says:

    @theUSER101 Since you're such a cynic…what is the answer then? trust Ron Paul? We've been in debt for over 200 years, you asked me a question about who I would want and I answered it. the govt. is corrupted by corporations…so instead of try and regulate them you and dr. pauls answer is….? leave them be? you want them to have a change of heart all of a sudden???

  49. rsty614 says:

    @theUSER101 if we don't have any competition than how do we have such medical advances and innovations it contradicts your earlier point

  50. rsty614 says:

    @theUSER101 and it doesn't surprise me at all when people who don't know business think it is as simple as ayn rand would have you believe, the markets will regulate themselves, it is equivalent to saying that basketball players should referee themselves, on paper you say well based on if someone calls BS fouls(cheats) people will stop playing with him and only players that are honest will play the meaningful games, but if you've ever played you know it doesn't work that way

  51. rsty614 says:

    @theUSER101 you remind me of a young naive school girl who thinks that when she grows up she will meet prince charming and have sex and fall in love and get happily married; stop believing in fairy tales, if it sounds too good to be true than it usually is, why does the constitution force socialized programs onto us if they are such a bad idea? and if deregulated markets would lower prices than why do corporations want them deregulated so bad? answer the psychology behind that

  52. RB says:

    @daguzify BUT their taxes are incredibly high. Up to 60% i believe.

  53. rsty614 says:

    @theUSER101 I agree that the government is corrupted, but I do believe it is salvageable. the majority still has the power and we scare them…example is minimum wage laws, obviously it costs companies a lot of money and they pay politicians a lot of money to get rid of it but it still remains because they know we wouldn't stand for it

  54. rsty614 says:

    @theUSER101 LOL I figured I had an Ayn Rand on my hands, and just because you know a few people who like ayn rand doesn't mean that almost every businessman is an ayn rand fan, example: I live in Austin, tx and every business person I've ever met was not a fan of Ayn Rand therefore almost no businessman is an Ayn Rand fan; see how that may not be true based on my small sample size?
    I love people who follow a foreign born non business owner as their gospel

  55. rsty614 says:

    @theUSER101 that's what free market means no rules..

  56. rsty614 says:

    @theUSER101 so if they want deregulation then why do you want deregulation?

  57. rsty614 says:

    @theUSER101 I thought you said the govt is paid for? Don't you think military contractors are just going to pay Ron Paul? everyone in the govt is corrupt except dr. paul?….I think Ron Paul is the best GOP republican choice, and I might consider him for president over Obama, if we can win the house and senate then Paul might be a big step up over Obama, but I believe Ron Paul is honest and isn't bought and paid for, didn't know your dogma allowed that belief though…

  58. rsty614 says:

    @theUSER101 she is just another welfare queen who took social security and medicare payments to afford health care because it was too expensive, but I'm not a fan either, just not a big fan of hypocrites in general I guess

  59. rsty614 says:

    @theUSER101 I think I understand what you are trying to say…the problem as you mention is that the industry has enough power to influence what is fraud, but what you say isn't too unreasonable, my only point I would make is that regulating safety (food, road) is important, and that unfortunately in the financial industry the banks are literally too large to fail. if they don't get bailed out, you wake up one morning with no money in your bank account because they don't have it….

  60. rsty614 says:

    @theUSER101 well to be fair since we've cut taxes in 01 and 03 our country has lost a lot of jobs, under Clinton when the taxes were higher the economy was much better and the deficit wasn't as bad, and like I said before I might vote for Ron Paul over Obama, I don't like Obama, he is way too conservative for my tastes

  61. rsty614 says:

    @theUSER101 but you said everyone in govt. is corrupt, there is some logic for you…where in the constitution does it say that health care has to be privatized? in fact the constitution caused us to go into debt, and you do understand that my taxes would go up in the plans I talk about, that doesn't sound like free shit to me. I bet you think my father getting social security would be a handout even though he has paid into it for 40 years, why doesn't that make sense?

  62. rsty614 says:

    @theUSER101 the undecipherable garbage you just wrote might be as good as Rands writing, but I can't argue what you are saying because it simply makes no sense "talking specifically about what she ended up talking"? "when you read what she wrong about 10 years before"? people do worship her for some reason,

  63. rsty614 says:

    @theUSER101 why are public colleges so much more cheaper than private colleges when they yield the same results? there are private loans that aren't guaranteed that students get all the time

  64. cityking9ne says:

    @brandnutopian No you equate being black as being undereducated and of the street,I equate going to Harvard as being part of the future elite 1%,which in this country are usually the whitest of the white ,or if not white skinned white minded,and being I'm almost positive very few people watching TYT on youtube went to Harvard,Yale,or any other ivy league.,Obama is whiter than all of them,no matter how white and superior they feel, Obama's peers wouldn't give them the time of day.

  65. rsty614 says:

    @theUSER101 the loans are usually semesters to a year at a time not 4 years, and yes all you need is a cosigner, how do you think kids with credit start getting credit? how does a kid with no credit get accepted to sign a lease for an apartment complex? usually a co signer of some sort, or they can prove through their pay checks that they can afford the payments, also getting a car loan

  66. SuperBenzid says:

    @cityking9ne I think you are managing to be racist against white people and black people at the same time. Interesting.

  67. cityking9ne says:

    @SuperBenzid Nope just telling it how it is.And if most people see it that way,we would acctually have less racism.And my adoptive grandparents were white(whom I loved very much)so I'm not racist,I'm a realist.You can't pull the racist card with me ,it doesn't work,and I'm not unfamiliar with either race or class.Don't judge a book by it's cover(or channel in your case).

  68. stevefromPA2 says:

    Chase sold my loan while I was in the middle of loan modification…

  69. stevefromPA2 says:

    I swear to god..if i can do it with credit cards and carpayments..I pay cash for everything..I will never have mortgage….Im just tired of being raped by the wall st blue suits…

  70. publicatdamagnificen says:

    @stevefromPA2
    AMEN STEVE! If I can't pay with cash, I'll just do without and save until I can pay cash for it.

  71. cityking9ne says:

    @m015094 I was talking about African Americans,and my stepfather teaches there, I have worked there,and there aren't many African Americans.Most of them are there for the benefit of the 1%.It's just how it is.

  72. suddendee says:

    Everyone was screwed by subprime.

  73. cityking9ne says:

    @m015094 It's not blacks,it's some African Americans as well as white Americns that have that problem,it just depends on their class and their upbringing.And it also has alot to do wit equality,there was a study done,and they found that whites with a high school education were found to be paid just as much (if not more) than blacks with a 4 year college education for the same positions.so this has an effect on them also.They get somewhat discouraged.

  74. LoveIsLogical says:

    @m015094 Do you realize that the top 1% are only…. 1% of Americans; no matter how hard everyone may try there can only be 1% of Americans who are the top 1%. Obviously having economic advantages help you reach the top.

  75. pooyan6969 says:

    Gee…how surprising that this happens in America…is it any wonder America is sinking and burning?

  76. cityking9ne says:

    @m015094 Oprah is not from the an urban enviroment.And you are mentioning an entertainer turned entrepanuer.I've noticed that people always bring entertainers up as examples for successful African Americans in a debate.Why is that?

  77. cityking9ne says:

    @m015094 He is half white American and half African,he was raised by the white side of his family,doesn't even know the African side,so that makes him a white American,whether they like it or not,he is "whiter" than most of the white people that call him black,he was raised to be part of the1%,he lived in Hawaii with his white family,went to Harvard,and he's Dick Cheney's cousin.When America sees things for how they are,and not for how they wanna see it,we will be a better country.No?

  78. cityking9ne says:

    @SusseMedel Yeah,but he accomplished the ultimate in American success because the average citizen thinks that way of him,but his peers know different,some feed off of that ignorance of the public even though they know different(R.),he is doing a good job as far as the insiders are conserned,but they know his color is a distraction for the ignorant whites that they are stealing from,so they use it as a tactic,not because it really matters to them.They all belong to the same club.

  79. BaseBallerBHS11 says:

    @nottinmatterz2day In my memory it's been like that for quite some time

  80. JGvisions says:

    He was just a dancing puppet shown to the masses to distract them from noticing the puppeteer robbing them blind and passing a whole bunch of laws that gradually tightened the grip the government has over the american people. Guatonimo, healthcare? smoke screen issues covering up what was really going on!

  81. iya290 says:

    @fargonbastedge
    No you fucken idiot. First, generalizing minorities as hunter-gatherers is completely wrong. For one, you conveniently forget about the great empires of Mesoamerica, Asia and Africa. Two, minorities do understand capitalism. Capitalism would not exists without the slave labor of indigenous people and Africans. The entire western hemisphere would not be what it is today if it wasn't for the forced labor of these people.

    Your ignorance kills. Read a book.

  82. pantheon777 says:

    @nottinmatterz2day TYT is totally patriotic. That's what our country is all about: free speech, free thinking and exposing what is wrong so that "we the people" can fix it!!!

  83. pantheon777 says:

    @fargonbastedge wow, how unbelieveably rascist!!! It blow my mind how utterly ignorant someone who obviosly comes from such a learned "people". What a joke!

  84. onenickelmiracle says:

    @fargonbastedge Who understands anything on any contract corporate America pushes in front of us? They are written to protect their asses and really should be invalid since the signers are intializing they have read the contracts and the other party knows they haven't.

  85. onenickelmiracle says:

    @fargonbastedge Your Darwinian line of thinking was tried by Hitler and the world agreed against it. Listen, what is wrong with America is hypocrisy and a lack of morals at every turn. If you cant conduct honest business, you shouldn't be in business.

  86. onenickelmiracle says:

    @fargonbastedge You are the king of the trolls.

  87. Kareem Williams says:

    Listen brotha man….he can only do what he can do, and with the house mostly republicans what can he really do? who is there to help him, but god and everyone else is asking and not willing to help him….come on….this questions is what are you doing to help to situation?

  88. Jon Scovell says:

    Bullshit! Pushed minorities into loans. how can anyone take this crap seriously? We know the Community Reinvestment Act was government forcing banks to alter their lending practices so "minorities" (You Progressives and your collective terms) or people with little or no credit could receive loans. This was one more social justice failure by the govt. This clip bleeds desperation. I see the host is back from MSNBC. How does it feel to get racially screwed by Sharpton? "White All Night" victim. HA

  89. sauroid1 says:

    Funny how these thieving banksters weren't held legally responsible, and millions of Americans were wiped out by these schemes. Seems like an enormous shift of money has happened. Wonder how many years it will take to clean this mess up, if it is even possible to do so without restructuring the entire system.

  90. Louieinoz says:

    Received

  91. homiha says:

    @Brown86Town I've noticed big improvements as of late! I'm impressed!

  92. David Johnson says:

    So Barney Frank took the hit…I mean…who's going to believe some lying Gay congressman, over reputable business men…Really…!

  93. dangerouslytalented says:

    The loans that were covered by the Community Reinvestment Act were NOT the ones that the banks were selling as securities. THESE loans were sold in securities that were DESIGNED TO FAIL. They got bonuses from commissions and for increasing the portfolio, then they insured the loans in Credit Default Swaps, and collected on the insurance, while selling off the loans to pension funds and foreign countries like Ireland, who had no idea that these dirivitives were toxic.

  94. dangerouslytalented says:

    The loans he is talking about were NOT covered under the 1970s CRA. THESE loans were high interest mortgages sold to low income people, which were designed to get as many high interest loans onto the banks books as possible and thereby give the executives massive bonuses for increasing portfolios (which they then sold off to unsuspecting pension funds, but kept the contract to manage them,AND taking out insurance against them, which meant that they made MORE money by allowing them to fail

  95. dangerouslytalented says:

    actually, it REALLY is not about the government getting involved with that, you can see EXACTLY the same thing when you look at any form of retail finance: Credit cards, car loans, student loans, whether the government is assisting or not.

  96. Learn English says:

    TOP:

  97. Herbert West says:

    No. The government was only pushing banks to do business in AREAS that had been ignored, not with people who could'nt afford to buy homes. The CRA (which I assume you're referring to) states very clearly that the loans were to be given according to standard banking practices. Banks have more lawyers on their payrolls than actual bankers – I can guarantee you that they were more than capable of reading the CRA and understanding it.

  98. Herbert West says:

    That literally makes zero sense. Even if banks increased lending by 100% to areas they previously refused to serve, the total number of loans would still not have been enough have had the slightest impact on home values. Not only were/ARE housing values in the red-flagged areas extremely low, but defaults in those areas only increased by like 15%. Sorry, kiddo.

  99. Nancy Desch says:

    So the lending institutions have created this economic disaster?  Elizabeth Warren is right but we can't seem to stop the bastards because there is just too much of this crap going on.  Many of the regulations to rein in banks after the Great Depression put thru by FDR have been systematically eroded by the republicans.  I remember when banks could not cross state lines and I know because I worked 10 years in banking.  Then suddenly in the early 1980's our city was invaded with out-of-state banks which gobbled up our local banks.  These laws were put in place to ensure that if a bank fails it wouldn't take down half the country.  If a local bank fails it's just in that state.  Suddenly around here we had National Bank of Detroit and Bank One who cobbled up Indiana National Bank and American Fletcher National Bank.  Thanks republicans for giving us the Great Recession of 2008.

  100. Mark Brown says:

    wow not suprised.

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