Chase Pushed Minorities Into Subprime Loans - Former Banker Video

A former Chase banker spoke with The New York Times' Nick Kristof about how Chase pushed subprime loans to minorities for big commissions. The Young Turks host Cenk Uygur breaks it down.

http://thinkprogress.org/economy/2011/12/01/379332/former-banker-subprime-pushed/

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actually, it REALLY ...
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.

Im not talking ...
Im not talking about the Community Reinvestment Act. Im talking about the government getting involved in the? finical sector and housing market in 1994 by the democrats because they wanted to give "unfortunate Americans" homes they couldn't afford. Your talking about something completely off topic.

The loans he is? ...
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

The loans that were ...
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.

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

I've noticed? big ...
I've noticed? big improvements as of late! I'm impressed!

A youtube video ...
A youtube video using the term "Zionists". I think you missed the key point. "lower the credit requirements? for home loans". Thats your issue. There was real discrimination. Problem is, they should have made sure someone can afford the home before selling it. Thats common sense, I dont see how minorities fits in that, rather than poor people living out of their means.

sure /watch?v= ...
sure /watch?v=wASFRavojBY?

"Which caused the ...
"Which caused the housing crisis." I? would like to see proof of that.

The world doesn't ...
The world doesn't work in survival of the most "equality", but it works in survival of the strongest... and the sooner you video game playing no nothing liberals? realize that. Then you'll understand why socialism always fails, why feminism is destroying our culture and why multiculturalism doesn't work, because people fight over there differences and don't fight over there similarities.

Yup. Everyone knows ...
Yup. Everyone knows the federal government got involved with the housing market 10+ years ago to help "minorities" get loans and they didn't pay make there payments (shocker). Which caused the housing crisis I cant believe this leftist propaganda. I've always noticed that whenever? leftism fails, they always blame something else.

Received?
Received?

Funny how these ...
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.

Bulls**t! Pushed ...
Bulls**t! 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

we go to war with ...
we go to war with country's and its normal to us we hear? about death tolls and casualties of war thousands, hundred of thousands dead collateral damage and its all very disgustingly normal for us.why whats the point are we any free'r has anything changed other than the quest for power.

wow yeah ya know i ...
wow yeah ya know i could be wrong but the "system" we have of government or this bs democracy we have or whatever you wanna call it is not working at all.of course obama followed the bush admin he's just a puppet the bankers run the world. whatever im not voting and i urge you not to partake in the strictly participatory act of voting. divide and concur? if our civilization lives long? enough they will look back at us and talk about how horrible our existence was.

Listen brotha man.. ...
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?

I've seen some ...
I've seen some morons in my day but wow, you take the cake. "I agree feminism, multicultrism, allow gays? to marry is whats bringing america down" Wow. Just...wow.

To the common ...
To the common dumbass liberal who? doesn't understand finance or personnel responsibility... I can see why you'd say that...

You are the king of ...
You are the king of the? trolls.

It is an honest ...
It is an honest business. Those people couldn't pay for there loans because they couldn't afford them and ARM stands for adjustable rate mortgage I don't know how to explain this to? you any easier. So if I believe in personal responsiblity that makes me Hitler? My god, what more do you them to do? "Listen, what is wrong with America is hypocrisy and a lack of morals at every turn" I agree feminism, multicultrism, allow gays to marry is whats bringing america down

Your Darwinian line ...
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.

and its that ...
and its that attitude that's destroying America. ITS YOUR responsibility to understand everything and if you cant. Then well? maybe your to stupid for survival?

Who understands ...
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.

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

TYT is totally ...
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!!!

No you f**ken idiot ...
No you f**ken 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.

He was just a ...
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!

Jew & Economic ...
Jew & Economic Destruction 1. 1998 Brooksley Born ( white woman? ) wanted to regulate the subprime mortages. She was Chairman of the Commodity Futures Trading Commission in America. 2. 5 Jews defeated her : Alan Greenspan. Robert Rubin, Lawrence Summers, Arthur Levitt & Timothy Geithner ( appointed Obama's Treasury Secretary ) 3. In 2008 these subprime mortgages exploded & thousand of Americans were homeless. 4. Watch PBS video " The Warning " on youtube 5. Testimony to US Congress included

In my? memory it's ...
In my? memory it's been like that for quite some time