Jan. 20 (Bloomberg) — Steven Blitz, an economist at ITG Investment Research, Daniel Alpert, managing director at Westwood Capital LLC, and Stephen Wood, chief market strategist at Russell Investments, talk about the U.S. housing market, increased lending standards at banks and the European sovereign debt crisis.
They speak with Pimm Fox on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)
Duration : 0:15:50
FREELOADERS: A John Stossel Fox News Special
some of the footage was us in the old freeloaders in 2006 on 20/20 you can see it here at http://www.youtube.com/watch?v=4teq7aKTNJ4 at the end of the clip
Some Americans actually make a living … begging for money. Professional panhandlers, they’re called, sometimes making more than $100 in a day. I tried it in Manhattan, and made over $11 in one hour—that would be $23,000 a year—tax free!
It’s a small example of why some said that the USA is turning into a nation of freeloaders. The Manhattan Institute’s Heather MacDonald says that beggars she’s encountered “have the most deep-seated sense of entitlement that I’ve ever come across.”
From those defaulting on their home mortgages, to those who see lawsuits as a lottery ticket, many Americans live off the hard work of others.
I look at how government turns people into freeloaders Did you know that any black person who has farmed or “attempted to farm” can collect $50,000 from the Federal government? “Attempted to farm could mean anything,” says black farmer Jimmy Dismuke, “My little three year old grandson could attempt it.”
We’ll introduce you to a woman who hasn’t paid her mortgage in 25 years… and doesn’t ever intend to. I confront the founders of “youwalkaway.com”, a website dedicated to advising people on how to walk away from their home mortgages .
Some of America’s biggest recipients of handouts are rich people. The biggest corporate freeloaders may be the biggest industrial corporation in the world: General Electric.
General Electric CEO Jeffrey R. Immelt is super-close to President Obama. The president named Immelt chairman of his Council on Jobs and Competitiveness. Before that, Immelt was on Obama’s Economic Recovery Advisory Board. He’s a regular companion when Obama travels abroad to hawk American exports. (Why does business need government to do that?)
I’ll also reveal some of my own freeloading. Federal flood insurance is a freebie for those of rich enough to have waterfront property, I collected on that. People like Bon Jovi and Bruce Springsteen take advantage of tax benefits that are supposed to help farmers.
Is America becoming a nation of freeloaders?
Duration : 0:10:27
Rep. Dennis Cardoza (D-Calif.) was elected by a district where 30 percent of homes have been foreclosed on and 70 percent are under water on their mortgages. Cardoza tells Cenk about his plan to prevent foreclosure through widespread mortgage refinancing — and how he’s been rebuffed by the Obama Administration since the beginning of their term.
Duration : 0:3:4
The subprime crisis impact timeline lists dates relevant to the creation of a United States housing bubble and the 2005 housing bubble burst (or market correction) and the subprime mortgage crisis which developed during 2007 and 2008. It includes United States enactment of government laws and regulations, as well as public and private actions which affected the housing industry and related banking and investment activity. It also notes details of important incidents in the United States, such as bankruptcies and takeovers, and information and statistics about relevant trends. For more information on reverberations of this crisis throughout the global financial system see Financial crisis of 2007–2010 or Global financial crisis of September–October 2008. Home sales continue to fall. The plunge in existing-home sales is the steepest since 1989. In Q1/2007, S&P/Case-Shiller house price index records first year-over-year decline in nationwide house prices since 1991. The subprime mortgage industry collapses, and a surge of foreclosure activity (twice as bad as 2006) and rising interest rates threaten to depress prices further as problems in the subprime markets spread to the near-prime and prime mortgage markets.
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Duration : 0:13:12
It’s a testament to just how bad the economy is: an event in Hartford to help homeowners with their mortgages drew in thousands of people on Tuesday.
Duration : 0:2:18
Nov. 8 (Bloomberg) — Michael Cloherty, head of U.S. interest rate strategy at RBC Capital Markets, talks about his investment strategy for bonds.
Cloherty also discusses Federal Reserve monetary policy and Europe’s sovereign debt crisis. He speaks with Tom Keene on Bloomberg Television’s “Surveillance Midday.” David Gordon, head of research at Eurasia Group, also speaks. (Source: Bloomberg)
Duration : 0:10:5
KMBC’s Micheal Mahoney reports on how the program works.
Duration : 0:1:54
FreedomWorks chairman Dick Armey talks about how subprime mortgages have affected home ownership and the economy — and why a government bailout would be a bad idea.
Duration : 0:3:0
Oct. 19 – CoreLogic Chief Economist Mark Fleming says the refinancing deal between states and banks only affects a few million homeowners and won’t do very much to improve the U.S. housing market outlook.
Duration : 0:4:51
KMBC’s Kris Ketz reports.