The Return of Subprime Mortgages – Taking Advantage of The Poor, Destroying Lives

Josh Sigurdson talks with John Sneisen about the insanity of subprime mortgages in the United States and how poor people with bad credit are being taken advantage of.
As John says,
“They start making mortgage backed security packages and collateralized debt obligations and they’re going to use credit default swaps to insure them and then you’re going to have AIG collapsing again. They’re running out of people to borrow money to so they are looking for someone to take advantage of and it’s the people who don’t have financial educations.”
We saw this happen in 2008 and now we’re seeing it again because people forget the past far too easily and repeat the same mistakes over and over again. Despite the 2008 recession and the housing crisis, it seems the bankers and the people alike are desperate for failure, debt and control.
Let’s heed the warning! Stay tuned for more on this issue as it unfolds!

Video edited by Josh Sigurdson

John Thore Stub Sneisen
Josh Sigurdson

Graphics by Bryan Foerster and Josh Sigurdson

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