As many of you may have seen, “On Tha Spot’s” first webisode consisted of a range of topics ranging from the economy, to the King Legacy, to voting (not voting) for Barack Obama. This video contains several outtakes (bloopers) from all four previously aired shows. We have heard your opinions on the concept of the show itself. Now we want to remind you of a few of the views of our panelist? Who made the most sense? Who do you TOTALLY disagree with? Who would you like more elaboration from? Or simply, how do you feel about the issues discussed on Webisode #1 “Straight Politickin’ “? Take a look at the video..IT’s YOUR TURN!!
Advertisement
3 Comments
Comments RSS TrackBack Identifier URI
Im not sure how many of you guys saw 60min this past Sunday (Feb 15) but they talk about PREDATORY LENDING!! It was actually sad man!! They had an elderly lady on there wo has refinanced 4 times in 4 years because her mortgage KEPT CLIMBING. Now to Mr. Tutson’s point….America is about capitalism and thats cool. But when you have an underwriter who used this lady’s DECEASED husbands Social Secuirty Checks as income to APPROVE the loan….when does Capitalism and the “I can win” attitude clash with MORALITY? Or i guess the question becomes…DOES IT EVER!!??
At the first forum it was mentioned that Dr. King thought capitalism was inhuman and I would suspect that this 60 minute story is exactly what he was talking about.
Taking advantage of the elderly is wrong all day long but the elderly don’t make up the majority of the predatory lending victims. What about all of the non-elderly people who found themselves victims as well.
Marcus said that this country was build on the backs of the middle class. I say this country was build from the taking advantage of the middle class. Is it right? I don’t know. Is it fair? Yes it is!!! Especially now when the information is so available for those who seek it. Russell Simmons said it best. “There is no excuse to remain ignorant in this day and time.”
It’s amazing that after graduating from school (high school or college) most people never read another non work related book in their life. For those that have read a book, most of them never read any books about money. This is what we should be talking about. This is the real injustice but no one speaks on that. I wonder why? Maybe it’s because you only have yourself to blame.
Capitalism is not the problem, unethical aggressive capitalist isn’t a big enough problem, but refusing to educate yourself about capitalism, leverage, money, debt, in other words the American way. is the real problem. It’s a down right sin!
Open your eyes:
With all the conversations about where were you when Barack got elected or where did you watch the inauguration? Yes a great moment in history, hooray, but I have a question. What have you done since November 4th? Obama is a capitalist, period! Over the last two years during his rise to glory, he’s made over $4 million from his two books. That’s Capitalism!!! He capitalized and leveraged close to a billion dollars of your money to earn him a job that pays $400k a year. Again Capitalism!!! So are you doing what he’s doing or are you listening to his speeches of hope and complaining about how rich people are taking advantage of you.
I feel for anyone that gets taken advantage of but capitalism just like nature is only the strong survive. “He with the knowledge rules the land” that is why my political view is “get yourself educated about money.”
Closing thought:
“Is the love of money the root of all evil or is it the ignorance of money?”
I am a Mortgage Broker. So don’t judge me
What I noticed is we are looking for someone to blame, and no one wants to take responsibility. What you all seem to have missed is the mortgage downfall started in late 2004. What are the contributing factors?
1. Market Value: Property was valued higher than its actual worth.
2. Adjustable Rates: ARM’s (adjustable rate mortgage) has always carried a lower interest rate than traditional 30 year rates which made it more appealing to the home owner refinancing or a home buyer. Who doesn’t want a lower payment?
3. Relaxed Guidelines: Lenders started adjusting their guidelines to lure more consumers. ie: lower credit scores to qualify, 100% loan lending, allowing sellers to contribute 3% of their profit to the buyer, stated loans; where all you had to do was say you made a certain amount of money and that was acceptable. I can go on.
4. Mortgage Brokers: (not all) They were not taking responsibility and educating the consumer on the advantages and disadvantages of the many products the lenders were offering. All they heard was I want a low payment.
5. Consumers: Didn’t educate themselves on what was going on they just wanted to refi for whatever reason or realize a dream of owning a home.
There are so many to blame Appraisers, title companies, attorneys, builders, investors etc. I can go on forever. This is not a race issue. Every race of people was and still are effected. I want that to be clear.
I am so upset because I was one of many Mortgage Brokers who was honest with my clients gave them my best professional opinion for there situation, and what surprised me the most was I was told “I can get a better deal somewhere else.” What a slap in the face. But life is funny because a few of those grass is greener people have come back to me asking sometimes begging for my help. They have put themselves in tight situations. There are a few I was able to help, however was a lot that I could do nothing with I had to sit back and watch them loose there home and feeling helpless.
Bottom line is we as black people have to stop relying on everyone else. We really need to educate ourselves on what is going on in and out of our communities. I an not saying you need to become an expert, but have some type of information. We live in an age where info is at our finger tips. Many of us do not question the people around us. For Example. All my friends and family know I am a mortgage broker, however some of them went to other people for advice and got screwed. What since does that make?
This is a wake up call. So people WAKE up. Don’t rely on Barack to make it all better. Help Him to Help us.