Tip:
Highlight text to annotate it
X
c_n_b_c_ reporter rex and telly went crazy the other day the white house has
responded as well but first we've got a show you about what makes entirely and
did
uh... when he was on c_n_b_c_ insist very animated about this
housing rescue plan the bronco bomber has
it might lead to some homeowners in the country
and uh... recent tele call it apparently believes they made some bad decisions
and that they definitely but i should not be rescued
uh... the luxor recess
in more colorful language so let's watch writer task force right now rex and
telling testimony of sharma capital are standing by at the c_n_n_ group in
chicago and recommend listeners conversation listening to it because
i've been just who want to do it because
mister ross is nailed it
you know that the government is promoting bad behavior because we
certainly don't want to put stimulus fort canyons people walking their ten
dollars in their check
and think that they ought to save it headed towards of modifications i'll
tell you what i have an idea dealt with in the new administration's bid on
computers and technology how about this president new administration want to put
up a website stab people vote on the internet as a referendum to see if we
really want to subsidize the losers mortgages or what we'd like to at least
wide cars and buying houses in foreclosure thing given the people that
might have a chance to actually prosper down the road and reward people deccan
carry the water instead of drink the water repeat a novel idea a really
notebooks
collect money in your hand really rather not see all the like bloody arias this
is america probably you people want to take your neighbors morgenstern there's
an extra bathroom and can pay their bills ready for haying
not only the
president are probably listening natalie all stuffed in our market is the moral
hazard
like barbara all the evidence here and let them go unless you guys soon
from soliciting proxies staring at you know
cuban instead mansions and at a relatively decent economy they move from
the individual and collective powder drive-in fifty-four sappy separated
alaska regarding time i did it related ratted on water too is a little strange
to watch at their total paid rick how about the notion that
it will require that you can go down to two percent on the market is not on the
mind is two percent say they reported on are you still have forty percent not be
able to do it so why do you have that while we've been looking at houses
summers is a great economist but boy i'd love the answer to that one art comment
to the south of june second
alright so here's what we heard from him
why are we supporting bill
losers mortgages
okay so they're all those trips akki see that's the problem with this mindset
he doesn't know any of those people install the walls of the extra bathroom
in the extra bedroom
like they got a house that they couldn't afford cuz they were greedy
do some of those insist
absolutely
are all the people who are in trouble with their mortgages
the greedy ones i wanted an extra bathroom that are the losers and should
be fired you know helped out by us
come on health
course not
but we showed you a brave new films clip here api real people whatever trouble
pay them or is it good families earning an income
they couldn't pay the mortgage is it that they got into a pile on his
readiness up by more goods
which are pushed into because people are the extra fees and commissions
those are the real people in america and then the part that really drove me crazy
when he looks across all these traders
and the people that are involved in the financial industry says
sorry all america
no it's not
dawson
ice and i think i think that's the first place
real america
seek and that's a problem
in his world
those guys who are doing the wheeling and dealing to him that is the real
america
and the people who suffer because of their decisions
deserves
and he said that we probably bad behavior
at the back behavior but probably the some of the to the idea back
they
the guys whom day pushed all these mortgages portis complex derivatives in
the first place at the ones that toppled over the system i'm steve young has
written about that cab driver should be applied to the packers rally offcourse
c_n_b_c_ colorado bankers we don't understand
katie their bonuses and bernard on
also love cnbc
on meet the press
all you don't understand is how talented
the new composers well known as the prime minister of dollars
without that voters helmut scissors we should move where their daddy
but it's it's the same really that's
in these people that they don't get cases they are returning to cuba
god forbid we should try to help
anybody in the country
because if you do try to get ahead of the people who needed they've gotten out
your profits are trust and confidence
and i think i will be driver and ninety-two before sets
or look the and appears one of the very important substantive points
at the advances if you are down to two percent so that people can pay their
mortgage two percent interest rate
here so those forty percent off
but that's a little palmer said
he said we're not going to rescue all thirteen point two million homeowners
that are underwater
in a meeting that there were which is now worth more than their homes because
some of those were speculators some of those don't deserve that with someone
couldn't make it and we wanted out though that there are worthwhile
because they just
dot blot a home for whatever reason that they cannot afford
in fact that forty percent is not going to get help under this point
archetype of the people
and pay their mortgage
if you make the more reason interest rates a little bit more reasonable
welcome i said i love the plant
i don't know why i think some really interesting question
what i do know is are not often alarms about the bad behavior of the losers
with their mortgages
but think that the bank should get all the way executives of geniuses
but didn't get all the money
you understand they are the real america
that's what really bothers me about this clip
let's get the planet shares let's see if it works