It Takes A Pillage

[GoLeft TV]

Run time: 08:14 https://www.youtube.com/watch?v=ncpkPsDIQzk   Posted on YouTube: October 22, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: October 22, 2009 By DU Member: GoLeft TV Views on DU: 504

 
The GOP and the entire banking industry wants us all to believe that the entire recession was caused by Americans buying homes that they couldn't afford. That idea seems pretty crazy, but they've actually done a great job of convincing a lot of people that this is what really happened. The truth is that these homeowners who defaulted on their mortgages were actually just symptoms of the larger financial ills of the country, which can be traced back to a lack of regulation in our financial sector. Mike Papantonio talks about what really happened, and who is really to blame for this mess, is Nomi Prins, author of the new book "It Takes a Pillage."

Part 2 can be found here - http://www.youtube.com/watch?v=r8Mhomzy3po

[blackbart99]

1. Wonderful explanation of the Scam....

All the right can do is blame the little guy for defaulting when it was the corrupt companies
that were playing games in a repub created NO REGULATION ZONE.
:mad: :puke: And they got billions from govt(us) because it went bad on them.
Can I have my taxes back, I don't want to pay for their gambling debts.
:fistbump: :yourock: Good post. I always like Mike, and Nomi what can I say. Wow what a looker.

[JDPriestly]

2. This is a must watch.

The pyramid is a tool with which each of us can explain the sub-prime mortgage fraud to people we know. Greatest explanation I have seen. It's so simple. I've read articles and even a book on this, but Nomi Prinz explained it in a way that I can visualize and demonstrate to others.

[slipslidingaway]

3. knr - this showed 6 recs on the GP, but showed 3 recs when...

I clicked on thread.

Listening now...thanks for posting.