Comments by "Roger Dodger" (@rogerdodger8415) on "How the 2008 Financial Crisis Still Affects You" video.

  1. In short, the TRUE unsanitized version of these events goes like this. The Government insisted on loans for losers, regardless of credit worthiness. The banks KNEW these people were bums and would never loan them a dime, but they bought "insurance" against their losses. While this is going on, TV is showing "flippers" making big money with a few easy fix ups, and the leeches piled on borrowing from banks. When unemployment happened, all the suckers couldn't pay their mortgage and the whole system collapsed. Instead of hanging in there, and continuing to pay their monthly mortgage, they walked away and took a beating. What this video FAILS TO MENTION is that the banks paid back the "taxpayer money" WITH INTEREST. I lived through that period, had a mortgage and had PAID AHEAD SIX MONTHS of payments for any eventuality. I did not lose my home.
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  2. Loans for losers program. Washington decides it'll benefit society if the scum can get moved into housing. They can't afford it, but with adjustable rate mortgages it becomes possible. Many others were flippers that were counting on making a fast buck. Those that had savings to weather the storm and were smart enough to get a fixed rate mortgage, had no trouble. The banks borrow AND PAID IT ALL BACK WITH INTEREST to keep them solvent. The government put the full court press on to blame the banks for THEIR meddling in the economy. Your fake news bought the story and as you can see from this video, the big lie is perpetrated even to this day. No one moaned when the government bailed out the automakers. Cold fusion doesn't mention that the banks AND the auto companies both paid back the loans with interest.
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