2008 Crash Expert: Obama Lied To Cover Up Wall St Crimes

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Written by Breaking Points


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  1. I hate this. I unsubbed Kyle in 2015… couldn't stand him and all the stories he got WRONG. Now…Krystal, whom I love, is teaming up with him. So what do I do? I hate this. I can't take it….bye.

  2. Kamala Harris dropped charges on Mnuchin for banking fraud, destroying homeowner applications for relief. Then Mnuchin and his wife maxxed out donations to Kamala's political campaign.

  3. Trump was a crap president but Obama was worse and so is Biden. If the US wants a decent president, it needs to reform the campaign funding laws so that the amount that can be spent on each campaign is capped to a level that a candidate doesn't need to bend the knee to corporatists in order to secure funding.

  4. Fast forward how many years and we have a plandemic and they gave billions to the richest corporations AGAIN and allowed them to stay open as small businesses were fined for trying to keep food on the table? The government has always stolen money and found reasons to send their lobbyist's fat checks on the tax payers dime (on the middle class that pays all the taxes in this country). I'm 40 years old. I was a loan officer when the mortgage bond crash happened. I lost a car and a condo that I poured tons of money into. Then in this plandemic, I do life insurance and annuities (9 years experience) and it ruined my business. I'm truly sick of this evil rat race that Satan, D.C. and Wall Street have created. It's heartbreaking. At this point, my nose in my bible and I can't wait to go home, this aint it. Ephesians 5:11-13 & John 3:16. God Bless you all.

  5. Well, this is just my own experience but post-2008 I worked on behalf of many homeowners in California who were facing foreclosure due to their previous refinancing. Almost to a person, the loans they took out were way above their means (and were, indeed, using their home essentially as ATMs – some were "serial" refinancers) but their homes were appreciating to sky-high levels. Most of the individuals were not financially sophisticated and thought the value of their home could only go up. (Kind of like what we are seeing today.) In my experience, most of the borrowers did not used the money for health-care or whatever, but rather most either used it to pay off credit card debt (I saw the credit statements, the debt was for mostly frivolous purchases) or to remodel their home, build pools, etc. Yes, the lenders were all too happy to prey on these borrowers lack of sophistication, misplaced optimism, and often the buyers own desire to acquire more. In my opinion, the borrowers absolutely share some of the responsibility!

  6. I know people who signed up for stupid loans (variable rate, balloon payments, etc) so they could buy more house than they could otherwise afford. I’m sure some were just too stupid to understand the risk. The people I knew ALL realized the risk and didn’t give a damn. They got greedy…and then they got burned. I’m tired of these Leftists who think irresponsible people are never to blame for their choices.

  7. I think this is happening again today. The housing market is back in a bubble because of all of the weird crap they are doing to inflate the dollar, and people are trying to invest in assets that grow with inflation.

  8. We need to stop blaming the working class and the poor for needing housing as the cause of the 2008 crash – it was driven by wealthy people with second and third homes.

  9. I hate to point this out, but before he flipped and started supporting Trump… One person who did hold these people accountable and blamed all these people was Alex Jones. Way to be 12+ years behind on the point.

  10. The 2008 financial crisis just emboldened Wall St. to commit more crimes than ever before. They learned that there will be no accountability, there will be no punishment, there will be no one with a back bone to come after them. The SEC has lost all integrity and control over the markets as they have been infiltrated by big banks in order to facilitate this kind of corruption. This is not an issue of just Obama as president, this is a systemic issue in the banking system where lobbyist and politicians are ALL participating in insider trading, fraud, manipulation, and cover up. Just look at the main system of order flow (PFOF), created by Bernie Madoff and abused by every brokerage out there for a profit at the expense of retail market participants. Until these people are put in jail instead of paying 700k fines on profits of 150+ million, there will be no changes.

  11. Healthcare was still cheap for most people then before Obamacare. Yes Wall Street acted criminally, but the majority of people who had their homes paid for were doing this stuff to try to get rich. People struggling with health care costs or bc of inflation rarely own their homes outright.

  12. LOL!!! If you think blaming the Banks and Mortgage Companies for '08 somehow shows the complete picture then you are a HUGE idiot. They were simply following what the government wanted them to do… and, in many ways, forced them to do. Look no further than the "supposed" solution in the Dodd/Frank Banking Bill… they were taking money "Friends of Angelo" at Countrywide. Stop blaming companies… they are only playing by the rules that are set down for them.

  13. You need to go back to 1993 when Robert Rubin changed the rules for access to Treasury Funds at the Treasury Overnight Window. Financing bank's capital needs for mortgages, eliminating banks' need to raise capital thru deposits or the open market.

  14. I am a big fan of both of you, however, I am disappointed that you have taken this hyperbolic accusation that there were "10s of millions of felonies" that were covered up by the Obama administration as a fact. This is laughably not true. Home Equity loans are highly regulated, and our government regulators are the ones responsible for the laws and rules that incentivized more loan issuance. Canada did not have the same banking crisis we did, because they did not have the same laws incentivizing more loan issuance like the US did. The fact that this occurred does not mean "tens of millions of felonies" occurred. Rather, too many home equity loans were given out with not enough equity in the assets the loans were being made on because of bad banking regulation. When home prices went down, there was not enough cushion in the equity amount to cover many of the the loans that went bad.

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