A FORECLOSED WOMAN TELLS CONGRESS OFF

[JohnyCanuck]

Run time: 07:56 https://www.youtube.com/watch?v=AUD37PANOpE   Posted on YouTube: December 20, 2010 By YouTube Member: DinSFLA Views on YouTube: 301   Posted on DU: December 20, 2010 By DU Member: JohnyCanuck Views on DU: 8821

 

[Arctic Dave]

1. "Stealing everything that isn't nailed down".

Amen to that.

[Chisox08]

5. Then they steal everything that is nailed down

[fascisthunter]

2. gawd, she's such a whiner

what a purist! :sarcasm:



well said!!!! Kick and rec!

[TheEuclideanOne]

3. There is a tiny, but Bright Red dot in the center of her face.

Guess the government decided not to shoot this time. Lucky for her.

[NOLALady]

4. Don't Listen.

Do Something! A Men!

[susanr516]

42. Very powerful closing statement

k&r

[tabatha]

6. Heartbreaking.

Some of the listeners were obviously uncomfortable.

[zeemike]

9. Uncomfortable yes...but moved to do something not so much.

The truth is that many of the congressmen don't care....it does not effect them.
Lack of compassion seems to be a qualification for the job.

[kayakjohnny]

7. That was incredible!

All from the heart.

Couldn't read her statement cause she broke her glasses.

But spoke the truth in a big way, nontheless.

That was amazing.

I hope this makes the rounds.

Everything she said was awesome.

Thanks for posting this.

[JDPriestly]

8. Thank you, Sandra Hines.

I know this sounds awful. I'my so sorry you lost your home. But I'm so glad you lost your glasses because you spoke from your heart and you did a great job. I'm sure it was much better than any prepared statement could have been.

[originalpckelly]

10. She's right, there is a divide between America and its leaders.

Powerful stuff.

[QC]

11. She really shoulld try to be more pragmatic. n/t

[Citizen Worker]

12. Shattering the myths that have underpinned this society since at least the end of WW II. Think of

the real change that would be possible with 250 people who think like she does in the House and 60 in the Senate. Now, that's change I can believe in.

[butterfly77]

13. Go Sandra!

I listen to her every Sunday Morning "Fighting for Justice!"

[Michigan-Arizona]

72. butterfly77

Where do you listen to her at on Sunday morning? I'd love to listen to her as well, she's a fighter!

[butterfly77]

93. 1310 wdtw...

in Michigan look at their site http://www.1310wdtw.com/main.html

[bluetexas]

14. Sandra Hines for President!!! n/t

[kag]

21. Damn!

You stole my post! I'll just say it again...

SANDRA HINES FOR PRESIDENT!!!!!!!!!

With a bunch of smilies for effect...

:yourock: :yourock: :yourock: :yourock: :yourock: :yourock: :yourock: :yourock:

[closeupready]

27. Big Amen to THAT! Such a powerful speaker. I was very moved watching that.

And infuriated at the stuffed shirts we call Congress people! :mad:

[avaistheone1]

66. Imagine that!

:thumbsup:

:kick:

[irislake]

15. Very sad but

she's better off than most of the people in Iraq. Now that you've "freed" them too.

[Boudica the Lyoness]

70. liberated them from their arms and legs

and maybe even their whole lives...not to mention their homes.

[DeSwiss]

16. K&R n/t

[crazyjoe]

17. It's hard to follow what she's saying, she's all over the place.

She remortgaged a house that was in the family for 40 years? Sorry, but what does the housing crisis have to do with that? They borrowed a certain amount of money that they agreed to pay back, and whether the value of property goes up or down is not going to effect the loan she took.
I guarantee the bank would rather she just made the payments. Instead they now own another house in shit hole Detroit, I'm pretty sure the bank did not "steal" her families home.
I get that she's pissed, I don't blame her for that. I feel for this family, but they gotta take some responsibility for what has happened. You can't make bad decisions and then blame everybody else for it, and I am pretty sure a majority of people who see this video will agree at least in part with me.

[Name removed]

18. Deleted message

Message removed by moderator. Click here to review the message board rules.

[peace frog]

33. Their blank faces said it all..

"How many more minutes of this tirade do we have to sit here for? We've got better things to do."

[crazyjoe]

46. So what's your solution, give everyone who took a loan they couldn't pay back a free house?

[sabrina 1]

54. 'give everyone who took a loan they couldn't pay back a free house'?

Well, we did that with Wall St. didn't we? Gave the irresponsible, corrupt, greedy criminals trillions to help them cover their gambling debts and cover up the magnitude of the crimes they committed.

Any reason why the working class should be treated differently?

Why do you think the value of houses changed, putting people in the positions they found themselves in?

Have you been following this at all? Or do you think that just repeating the 'you need to be responsible' mantra of the rightwing explains what has been going in the corrupt mortgage scandal?

Why, eg, do you think that MILLIONS, yes MILLIONS of previously 'responsible' people, not just in this country but in every country where these Criminals were operating over the past decade, suddenly became 'irresponsible'?

Maybe if you sat down and started studying the biggest scandal of our lifetime, you would not make such inane statements.

Easier to blame the working class?

Iceland, another victim of greedy 'capitalism' is starting to turn the tables on all of this greed. As of now, they have nationalized their banks, started prosecuting their complicit leaders and investigating those ACTUALLY responsible for the collapse of their economy, causing foreclosures in THAT country to rise to unprecedented rates.

And, they in fact have answered your question 'should we give them a free house'.

Yes, say Iceland's politicians and are introducting legislation to forgive all debt caused by the banking scandal (and yes, it is a scandal, even if we here in the U.S. have decided to ignore it).

So, if they pass this legislation, people there will keep their homes, and those who profited from the scandal will have to pay for it, as it should be.

I hope we follow their example.

[Atypical Liberal]

65. THAT IS EXACTLY WHAT THEY DID!!!!

>So what's your solution, give everyone who took a loan they couldn't pay back a free house?

THAT IS EXACTLY WHAT OUR FUCKING GOVERNMENT DID!!!

They bailed out the LENDERS, and gave all of THEM free houses!

Word broke just yesterday that the actual Wall Street bailout is in excess of NINE TRILLION DOLLARS.

That money was used to prop up the banks that would have failed FOR MAKING LOANS THAT HAD NO HOPE OF BEING PAID BACK.

Now if the government can bail out the people who made the loans with no regard for whether or not they could be paid, WHY THE FUCK CAN'T IT HELP THE PEOPLE WHO BORROWED THE MONEY IN THE FIRST PLACE?

Would not not make much more sense to inject the money AT THE BOTTOM??????

If you knocked everyone's house payment in half, all sorts of good things happen:

1) People stay in their homes
2) People have more disposable income to spend to help drive our economy
3) Our costs of living decreases, making us more competitive on the global market

Instead, the monied interests in our country made sure that taxpayer bailout when into THEIR pockets. So the people at the top got paid, meanwhile the people at the bottom ARE JUST FUCKED. They lose their homes. They don't have more disposable income, in fact they probably file for bankruptcy. Their cost of living at best does not go down.

[defendandprotect]

71. Free? Most of these were "Liar Loans" ... Most of those foreclosed on have

been treated with great injustice --

Loans with escalating interest payments --

and no opportunity to refinance them --

COURTS/JUDGES WERE BARRED FROM READJUSTING THE MORTAGE PAYMENTS!!

Eliot Spitzer and other governors tried to work on this BEFORE this tragedy

happened -- they were stopped before they could begin by W. Bush.

This isn't "business" -- this is criminal activity masquerading as business.

[bluetexas]

19. I disagree with you

Bank of America are criminals. And our so called representatives sit on their asses and do nothing to stop it. Bank of America is foreclosing on homes that they don't even hold loans on.

See the following:

Suits filed against Bank of America

Attorney General Terry Goddard comments on the lawsuits filed on behalf of the citizens of Arizona and Nevada against the bank, charging it with a host of fraudulent and deceptive practices in its dealing with homeowners seeking loan modifications.

http://www.msnbc.msn.com/id/3036677/vp/40759434#40759434

[crazyjoe]

49. ok then you convinced me, anyone with a loan from bank of america can stop

paying, since they are criminals you can have a free house!!! Thanks bluetexas!!!

[defendandprotect]

74. Let's put it this way....they are criminals -- and your tax dollars have bailed them out so they

can do the same thing again to others --

[LittleGirl]

24. crazy joe, why are you here?

that woman took a risk to save her HOME. Not just any ole house, her home, her heritage. I bet you would have done the same thing if you were in her shoes. I'm glad I spent 8 minutes watching that. It's tragic what is happening in this country.

[crazyjoe]

47. what risk to save her home? did i miss something? she took a mortgage on a house

she already owned. please explain. Oh, and I am here because I am a democrat who believes in gay rights, a womans right to choose, health care for all. Are my beliefs ok with you little girl? did I pass your test?

[girl gone mad]

101. Isn't it obvious?

This is the new corporate tactic.

Attack anyone and everyone standing up for themselves against these criminal corporate scum.

Turn the conversation around to make the banks out to be victims and the borrowers/homeowners greedy, immoral con artists.

Up is down, black is white, war is peace. You know the drill. Don't take his bait.

[Confusious]

28. Wether or not they did steal her house

There are plenty of other people they did steal from. One that comes to mind is a person who paid off their home in full, and the bank tried to repossess.

And there are plenty of other people who qualified for better mortgages, but the banks gave them crap.

The one thing that pisses me off, and you do it too, is the fact that the banks were SUPPOSE to do due diligence, and they did not. If someone says you qualify, do you argue? They give the money, they should be making sure people can pay it back.

It's like saying that you should have argued with that teacher because he gave you an "A" but you knew you deserved a "C" or an "F." stupidity.

[fascisthunter]

40. same fucking talking points the bankers and gop make

disgusting twisting of the truth to defend real criminals.

[crazyjoe]

44. oh come on people, this is too easy. are there any worthy opponents for me

to debate? Because these responses to my post are epic fails, all of them

[Kweli4Real]

58. No ...

So go play somewhere else.

... And close the gate when you leave.

[emcguffie]

67. Unfortunately, from what she said, we have no way of knowing --

-- the precise circumstances of what happened in her case. But we do know that the banks have indeed been stealing homes from people. And we know that the banks are stealing homes they don't have the paperwork on, that they mortgaged fraudulently in the first place.

We also know that our money was used to bail the banks out, but it hasn't been used to bail out the human casualties of the recent economy.

I may lose my home because of illness. I am on disability, and I did not ask to be put here. I had no choice. I can no longer pay my family's bills, and my husband can no longer find work (he worked as a substitute teacher until this fall, when the work just disappeared, thanks to Chris Christie).

I believe her when she says her home was stolen. I see no reason to believe the banks, as it is now clear they have been perpetrating fraud. Why do you think it is okay for banks to perpetrate fraud?

[defendandprotect]

77. Like over-extending credit card limits, banks enslave people to debt and

and the results are inevitable --

And health care is one of the main reasons for citizen debt right now --

costs of "insurance" and costs of care -- and 50 million with no health care now!

[Atypical Liberal]

68. I suggest you listen to this:

http://www.thisamericanlife.org/radio-archives/episode/355/the-giant-pool-of-money

The simple fact is that the people granting loans to people did so with no regard to whether or not they could be paid back.

Yes, people should not borrow more than they can pay.

But the people making the loans should also have a fiduciary responsibility to make sure that the loans that they make can be paid back! And these people have the data! They should KNOW, very formulaicly, how to look at a person's financial situation and determine whether or not and how much they can take on in debt, and act accordingly!

But this is not what they did. They were so eager to make loans (because in the end, at least they'd own the real estate "which only goes up in value") that they would make loans to people with no assets and no income (NINA).

Listen to the link above.

You can't tell me that the blame rests solely with the people who signed up for loans figuring, "Hey, they told me I'm good enough for this loan, so I must be!"

[defendandprotect]

79. They've also prevented normal, legal/Court-Judge readjustments of these

mortages -- which would have kept the rates at the originally negotiated

prices which the owners could pay --

[Confusious]

112. You haven't responed to my post, I consider that an epic fail. nt

[emcguffie]

61. Are you interested in your grammatical errors?

If you are, I'll point them out to you.

[marmar]

63. "I am pretty sure a majority of people who see this video will agree at least in part with me"

If they've spent several hours in a bar.

[me b zola]

75. I don't agree even partially with one word that you wrote

...and I think the only people that will agree with you are those who have not paid any attention at all to the massive foreclosure fraud that is being perpetrated against the American people. And republicans. Yeah, they'd probably agree with you.

[Canuckistanian]

84. HERE'S how it happens

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=439&topic_id=47741&mesg_id=47741

and

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=385&topic_id=537284&mesg_id=537284

[pacalo]

98. Thank you for that. You've given us a good example of what she's up against.

When people fall on hard times, particularly in a state with big unemployment problems, you don't think there's a way the government should step in & help this woman keep her house?

Pottersville should remain in fiction as a moral to greedy capitalism & not made a reality. Not in the richest country in the world.

[ooglymoogly]

103. Not likely, nt

[PA Democrat]

114. You would be wrong about the bank preferring that she "just made her payments"

Banks no longer hold the mortgages they make. They are securitized and sold off as investments and serviced by companies that make more money off of the fees for foreclosure proceedings than working with the mortgage holder. Actually those companies are often acting illegally and unethically to foreclose on people who never missed a payment.

Watch this video. It will open your eyes.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=385&topic_id=537284&mesg_id=537284

[jimlup]

20. The warning has been given, those who are not listening will not recognize what is happening

When it hits. They could change it if they wanted to. I'm so God Damn mad when I think about this.

Thank You Ms. Hines! You spoke very eloquently for The People. It is time for them to listen damn it!

[AnneD]

22. The anger is about to surface....

if something is not done soon, rioting will break out because desperate people with nothing to lose have nothing to lose. When the riot start, it will be Katy bar the door.

[loudsue]

23. As well it should, AnneD.

But when it does, they will just call in the mercenary armies that are being funded by our government with our own tax dollars (Xe, formerly blackwater) like they did in New Orleans during Katrina, but when people get mad enough to start throwing bricks, the new crowd control weapons will come out. And they're pretty nasty. A whole lot worse than tear gas, pepper spray, tazers and batons. No. Now they have these sound machines that break your eardrums and microwaves that fry you. We had a bunch of research about it during the bush years.

It's a new day. Our government intends for us to be really afraid of them.

[jimlup]

35. Unless we can prefect the art of non-cooperation now!

If we all learn how not to cooperate with the financial system it doesn't matter what tanks and armies they have. It isn't a conventional situation and we should approach it non-conventionally. If we understand that we do have power, simply by not cooperating with their system they will get the message. The only problem is that we have to organize among ourselves to insure that enough are on board as to make the needed impact. They may try and turn off the internet when the big stuff starts to go down.

We need to form alternative networks among ourselves. Maybe I'm dreaming but I feel it could really be done. It is just a matter of will. Imagine just for a moment if everyone pulled their money out of Bank of America. Well, the financial system would really collapse. At least it would be crippled. That could be a first step. A warning shot.

[loudsue]

116. That's an ideal solution, and I hope that the dye has been cast for that

type of action, since Assange has set the stage for this type of smarter action against the powers that be.

[AnneD]

29. The more complicated the plumbing...

the easier it is to stop up the drain.

[fascisthunter]

41. rioting, indiscriminate attacks against those of the upper class

these folks really think people are not going to react at all...

[orbitalman]

25. She was wonderful.... hammering congress. Loved It. n/t

[defendandprotect]

81. "A government that has turned against its people...." how many here still

don't get it?

[closeupready]

26. Amazing and powerful. Sandra Hines cuts right ot the heart of the matter.

Big K&R

[roxiejules]

30. Refreshing heartfelt honesty

Thank you, Sandra Hines for your bravery.

[Enthusiast]

31. Her father made too much money at GM.

Funny how high wage jobs worked well for many years but now it doesn't. Tell me how wonderful these 'free trade' agreements are again. How did dismantling organized labor help us again?

[beyurslf]

32. I didn't hear why she lost her family home. I assume it was forclosed

for non-payment on the mortgage. But why was it still in a mortgage if they bought it 40 years ago? Most foreclosures start after missing several payments and all efforts to correct the negative payments have failed. Banks lose money on many foreclosed homes, especially in areas where values have decreased. I have never been foreclosed, but my best friend was. It sucked. But, he lost his job and chose not to make the mortgage payments while he paid everything else, He lived there for almost a year rent free! My dad lost our family home to forclosure. His parents built that house themselves! He went through his midlife crisis and stopped paying the bills. I tried for awhile but I couldn't keep making his mortgage payments to save our home while he chose not to. So the house is gone. Did my friend blame anyone? Did my Dad blame anyone?
As far as losing furniture and your possessions, you know when they are coming. You may not have an exact day, but you know when it is close. Get your stuff out! That is just plain stupid. We didn't lose a thing but the house when my dad lost our family home. My siblings and I went there one day while he was at work and got everything out that we wanted because we knew the sherrif was coming soon.

[Oilwellian]

36. Perhaps you should educate yourself on predatory lending

Predatory lending has become rampant in this country over the past 20 years, and Ms. Hines is but one example of its consequences. From what I gathered in her testimony, a second mortgage was taken out on the home for improvements and repairs and I would bet you money, the small print in that second mortgage included a variable interest rate that eventually left it impossible to repay. That is occurring to millions of Americans as we speak and nothing has been done to stop this intentional, outright theft. I'm old enough to remember the usury laws that protected Americans from this type of gouging...as kids we used to joke about mafia loansharks breaking the legs of people who didn't pay them back with a 25% interest rate tacked on. Nowadays, the banks have become the very loansharks we used to liken to the mafia.

Perhaps you're young and just aren't aware of the laws that used to protect us from this type of thuggery and theft. If your dad's parents built the family home and he inherited it at some point, why was there "still a mortgage?" It sounds to me like your father fell into the very same trap the Hines family found themselves in. Your grandparents mortgage was probably affordable to repay because they were protected by usury laws and their interest rate remained constant. Your father however probably took out a second mortgage on the home, just like Ms. Hines, and was blindsided by a variable interest rate that you yourself admitted to being impossible to repay. To say banks lose money on homes like your father's or Ms. Hines is disingenuous at best. They were homes that were owned outright at some point in time and then became the perfect candidates for predatory lenders to seek out and feast on.

[Boudica the Lyoness]

86. Thanks for explaining that

There are many people that think all people who are getting foreclosed on brought it on themselves. Even people who have never missed a payment or have been even late with one, are getting foreclosure notices. We all should be very afraid.

[beyurslf]

108. I know what predatory lending is and I believe those who do this should be punished. But, nothing in

her testimony talked about this. She didn't give any reason for the foreclosure. We can assume that it was bad lending if we are so inclined. We can also assume she just decided she would rather spend her $800 mortgage buying clothes, if we are so inclined. Testimony to the facts would have been helpful.

As for my father, no, he was not a victim of predatory lending. Yes, he has two mortgages which he rolled into one when he got behind and then promptly took out a new second. I suppose this new second may have been a bad loan. But, he did not lose our family's home because of bad loans. He lost the home because of bad choices. He chose not to pay the mortgage. My aunt bailed him out once to the tune of $1500 (two payments) and I bailed him out three times (twice with one payment each and the last time by paying 4 payments to catch him up). Three months after I paid off the back due balance to catch him, he had a foreclosure notice for failing to make payments for 3 months. Was this the lender's fault?

The point is, some people are victims of lenders who have are out to prey on our own naivete. (I didn't read the mortgages papers that I signed.) But, some people just plain don't see the value in paying their debts. Without knowing the facts, we will not know which case this one is.

[suzanner]

104. I guess a person has to understand a lot

about poverty, about the ability to get even an apartment with the deposits, about the state of denial particularly on a small debt versus the house value already paid, about disbelief that a bank would not negotiate something, and a score of other considerations. As was aptly said, millions of people can't all be irresponsible at once. The problem with this country is the anonymity of businesses which allows cruelty without conscience.

[Uncle Joe]

34. Kicked and recommended.

Thanks for the thread, JohnyCanuck.

[Paper Roses]

37. Excellent and from the heart. I praise this woman and hope

that this gets some real publicity. Millions like her are up in arms and do not have the opportunity to speak to Congress. Did you hear she had to borrow money to come and give her testimony? I thought I did. Wish I could give her a few dollars for speaking for me and millions of others.

[dotymed]

38. They really don't give a damn.

They've got theirs. Fuck us, they want more...a race to the bottom...

[wxgeek7]

39. Loss of a home SHOULD NOT be an option

I think there should be a law, making it very difficult, or impossible, to lose one's home. Simple as that. If the homeowner is having a problem making payments, the government should step in, and help out. If the homeowner is irresponsible in some way, penalize them, but never take their home away! Having a home, or place to live, is just one of those basic necessities that people in this great nation of ours, should be guaranteed to have (among other things).

And attach a law to that, outlawing corporate bailouts!

[Name removed]

51. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[defendandprotect]

85. +1000%

[craigmatic]

43. I'm for working people and I believe in fairness and I think this lady is right morally

but she gambled with that house getting it refinanced. Her mother was a smart lady. It's the system's fault because congress/the governemnt isn't looking out for the people like it should be. Look at all these loan places they have around today. The banks just got in on the hustle. It was wrong and it shouldn't have happened.

[defendandprotect]

87. "Liar Loans" are just that .....

and our government was permitting this to happen --

[AsahinaKimi]

45. Telling it like it is..

And it looked like half of those guys were sitting their dreaming about their Christmas Vacation Break. You can tell they were bored, or didn't care. They really don't care.. I am surprised they weren't checking their watches.

[valerief]

55. They care like a bank exec cares. Not one iota. We're bugs to them. nt

[AsahinaKimi]

107. They got theirs...

Why should they care about what we have? Its like we are all standing in quick sand, and they have a brand new rope, and wouldn't want our grubby little hands to get it dirty.

[sulphurdunn]

48. The suits on that committee

looked at her like snakes look at mice.

[burnsei sensei]

50. The point of refinancing anything is the retention

of property.
Not its loss.
Families make better homeowners than banks.
When entire neighborhoods are foreclosed, serious social consequences follow--
The homeless squat.
The drug-dealers have a venue for their sales.
The murderer has a place to kill.
The thief has a place to stash.
The poverty of the region did not cause its decline.
The wealth of those far away drained it.
It is in the national interest to keep people in homes they own.
It is also in the national interest to make sure everyone has a stake in the well-being of the society!
New Deal anyone?

[crazyjoe]

53. "The point of refinancing anything is the retention of property, Not it's loss" ...please explain

[burnsei sensei]

60. I have never heard of a person refinancing a car,

home or anything else with the objective of being evicted or having it repossessed.
People refinance in order to retain their property.
They do not refinance in order to LOSE it.

[crazyjoe]

115. In some cases, they refi to lower thier payment, but mostly they refi to take money

out of the equity for things like school, addition, but a car, ect. this is borrowing money and putting your house up as collateral, and if you don't pay it back you can lose your home.
I can't believe I have to explain this. Someday you may own your own home and this will make sense.

[rabies1]

52. So tired of these horror stories being ignored.

Would love to see her standing in front of them with the whole city of Detroit.
Maybe they wouldn't be able to ignore her then!!

[femrap]

56. Powerful.

She speaks the Truth. And her mother was right....'they're going to turn us into a 3rd world nation.'

I hate greedy rich people.

[Gormy Cuss]

57. For the posters who can't figure out how this could happen

read here:
http://colorlines.com/archives/2010/07/foreclosure_losses_still_mounting.html

But the summer of 2007, the Hines took out an adjustable rate refinance loan from H&R Block, to do some repairs on the house. Like millions of other families, when their monthly payment began climbing after just three months, they could no longer keep up. They fell rapidly into default and just days before Christmas they were evicted, becoming one of 2.5 million foreclosures completed between 2007 and 2009. Some analysts predict another 10 to 13 million more will begin the foreclosure process before the crisis ends.

They fell behind because the payments went up at a time that the family income went down.

[bengalherder]

62. And for repairs to the house.

Certain posters had better take note.

These loans are not usually taken for BS reasons, no matter what heartless republicans would have you believe. Besides the ones issuing these loans were crooked, I know of stories of "lost paperwork" and terms changed at last minute after huge amounts of time and money had already been invested in the refi.

Yeah, they should get their homes free! What the hell does a bank deserve them for if they dealt in bad faith?

As for the Hines, I hope they ate doing well. Detroit sounds like it is dying on the vine.

[defendandprotect]

88. Catherine Austen Fitts is clear on this .... financial markets knew jobs were to be lost ...

how?

Because they knew elites were shipping jobs overseas --

and private pension funds were used to do that --

And the housing bubble had been created in the same way --

using private pension funds.


http://www.youtube.com/watch?v=u9dGHuRExiM

[Atypical Liberal]

59. That woman does not matter.

It's really that simple.

The American people do not matter. They just don't. I'm convinced of it.

Word broke yesterday that the actual Wall Street Bailout dwarfed TARP's 700 billion - it was actually on the order of NINE TRILLION DOLLARS.

Who is getting that money?

Banks are getting that money.

The American Taxpayer is covering the debts of all these mortgages, BUT ONLY TO THE BENEFIT OF THE PEOPLE OWED MONEY.

The people with the homes? Our government has decided to just fuck them.

The game is just damn rigged, people, it's just damn rigged. Corporate interests have their hooks in our government so that it serves THEIR INTERESTS before ANYONE ELSE.

The rich people in this world OWN THIS GOVERNMENT. They are going to use it to make sure THEY GET PAID and fuck ANYONE else.

So the status quo will continue. Sandra Hines and the rest of the American people will continue to get fucked over, while the rich get paid off.

[PassingFair]

91. They knew what they were doing. They (the banks) both insured themselves...

and also had their thievery made LEGAL
by the Bush (and Clinton) administrations).

You're right, we got hosed.

[avaistheone1]

64. Ms Sandra Hines for President.

She rocks.

[sirthomas66]

69. I couldn't watch it all...too say. I'll say this: we can not let these

foul crooked government functionaries steal our lives. We have to fight them--now. And I don't mean like Ghandi, like a poster told me yesterday. Jesus...

[Michigan-Arizona]

73. Thank you Sandra Hines!!!!!!!!!!!!! n/t

[jotsy]

76. How can you not love her?

Wells Fargo stole my home of 15 years, it'll be a year next month. They engaged in so much questionable activity it boggles the mind. I dialed every number in the area for legal help to fight them. Without the resources to compensate for representation and in some cases even if, no one was interested in a fight with this legendary financial giant. I was told many times I likely had a case, but in the end, no one with the necessary skill set gave a damn about me, my family or what was right or wrong. I'll live without the house, I'll survive being robbed by those who have exponentially more than they'll ever need. I'll live as well with the contempt I feel for the public servants who make law and then pretend they're helpless to assist, hiding behind the policy of a free market economy that they don't see has morphed into monopolies that charge a mint for the very staples of existence.

Such is the case when the world values vice and views virtue as vulnerability, but likely not for long.

[Justpat]

78. Powerful, fearless woman.

A :toast: to Sandra.



Love her.

[davidthegnome]

80. Well and bravely spoken

A few of them had the decency to look ashamed, but most simply looked bored or perhaps even annoyed. It appears as if their attitude is almost like... "Why the hell should I care? I've got all the wealth I need. This peasant has no right to question me! I need my manicure."

It is, to use a generous (more polite) word, despicable. What a group we have supposedly serving the interests of the American people. We did away with monarchy to replace it with oligarchy, it seems. Somehow, I find that even worse. I'm so sick and tired of these corrupt bastards, I wish I had the means to truly make an impact against them.

In any event, I applaud her courage.

[Vinca]

82. This lady moved me to tears. She's so right.

For so many the American dream has become the American nightmare.

[peace13]

83. Anyone who denies that the banks have and continue to steal homes...

is frankly just not listening. They will never understand because....well you see, they still have a home and no one they know has had theirs stolen yet. Give it time!

[defendandprotect]

90. They are stealing, they are criminals ... and our government arranged to reward them....

as she says -- "the government has turned against the people" --

Democrats had 4 years to do something about this -- the response was pitiful.

Bailouts -- biggest financial coup in history -- ?

http://www.youtube.com/watch?v=u9dGHuRExiM

[Dokkie]

89. we support you sandra

Its sad honest working american are losing their houses to the banks they themselves help bailout

[Lions_fan]

92. I don't know where to put a post

I have a post i want to do about the connection between churches, refinancing companies and foreclosures but i'm not sure what category to place it. Can someone let me know please and thanks

[butterfly77]

94. Click lobby at the top then..

look in civil liberties,economy, or justice and see what you come up with after you look into those..

[humbled_opinion]

95. Only in today's America..

Where Banks and corporations get bailed out with tax payer money so CEO's and their minions can continue to collect multi million dollar bonus', but those struggling good hard working people that made lives through tough times and now see all their lifes work flushed away so that the rich can get richer, it makes me sick.

The bank that had this ladies mortgage could easily have worked out some arrangement, lowered her interest rates, suspended payments for a time, reduced her payments, something, that bank took advantage of taxpayer bailouts so it could stay afloat but when it comes to helping out their customers they just thumb their nose. No one should have to lose their home thats why the economy is so bad off right now.

[rgbecker]

96. That's one grim looking set of members of the United States

House of Representatives. I don't expect much to happen because of those guys. Ms. Hines on the other hand, speaks truth to power.

[DebJ]

97. + 10 Zillion recommendations. Posting on Facebook.

You go girl! Say it again for me!

[Riley18]

99. Thank you Sandra Hines.

[mckara]

100. A Citizen Addresses the House of Business Representatives

F'n' Congress!

[katty]

102. the grapes of wrath..."because we're the people..."

the people the guvment dumps on all the time.

[Javaman]

105. this is how it starts.

People are pissed. There will be many more people like this woman raising their voices.

Everyone in America should see this video. It shows that we can speak up and if enough of us do, then finally, FINALLY, our government will fear us!

[MikeW]

106. theres an awful lot of emotional posts without really looking at the facts

The basic fact remains that the house was paid for ... SHE CHOSE to take a risky loan vehicle.

Anyone who knows basic math knows that an ARM loan is risky and in general NOT a good option for most people.

Sorry I feel bad for her but thats where it ends, she took the loan, she signed for it and KNEW FULL WELL

what would happen if rates increased.

Too many in here want to make the bank the big bad guy here and in some cases rightly so but not this one.

But she chose to take an ARM and bears some sig. responsibility here.

Unfortunately at DU we shun responsibility, its a bad thing.

[girl gone mad]

110. You can rest assured, I say this with all due stoicism:

The bank is the bad guy here. This woman's loan should not have been created or approved to begin with. Once it was, when the economy fell apart due to the malfeasance and criminality of the big banks, every effort should have been made to modify the loan, restructure the debt and allow her to keep her home.

The banks created their own digital printing press through a series of financial Ponzi schemes. They suckered Americans into taking on too much debt by selling lies about the unyielding value of housing. Executives used the banks as mere pass through vehicles, rewarding themselves with extremely lavish compensation and bonuses, balance sheets be damned. Once the Ponzi collapsed, their bought and paid for political actors bailed them out on the public's dime. Now, they're stealing from the American people, yet again. Rather than gratitude for our aid, they've retaliated with more illegal acts of greed.

To support these criminal enterprises in any fashion, rhetorical or otherwise (whether compensated or not), is to shun not just responsibility, but dignity, reason, humanity and civic duty.

[jeanpalmer]

118. People like her were misled by the bankers

They couldn't have understood the consequences of the loan. If they had understood, they wouldn't have taken it out. They were preyed upon by pedator lenders who knew the consequences. When a lender makes an ARM loan and knows that the $700 payment today will jump to $1400 in 3 years, and knows that the borrower's income is $1700, that lender knows with certainty that the borrower is going to default and lose his house. That scenario was commonplace. It was a scam, done solely to earn fees for the bankers. They didn't give a damn what happened to the borrower. Most borrowers during this bubble, especially the ones who came in at the end, were not sophisticated enough to know the consequences of what they were doing. They were ripe for the taking. Mortgages especially ARM's are hard for the average person to understand. And the fraudster bankers took advantage.

[lovuian]

109. They Better listen ....the Anger swells

I love looking at their faces

they know what they are doing

NOTHING

[Frisbee]

111. Very moving...

I'm sorry she broke her glasses on the way there, I am sure it is just one more financial hardship she didn't need. But I am glad she did, because I can't believe her prepared statement could have come across half as well as her speaking from the heart, while just looking them in the eyes did.

[lovuian]

113. An example of You tube censorship

there are 4707 views from DU but only 307 views on You tube

is someone lying here

[ClayZ]

117. K and R

[big lu]

119. Kickd

[Courtesy Flush]

120. "Transfer of wealth"

That's a buzz phrase for the Right. Well this is a transfer of wealth. Corporate America is raping the country.