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Subprime Time

Wednesday, September 02, 2009

Co-producers of American Casino director Leslie Cockburn and journalist Andrew Cockburn talk about their new documentary on the subprime lending crisis.

Guests:

Andrew Cockburn and Leslie Cockburn

Comments [11]

Eugenia Renskoff from Williamsburgh, Brooklyn

Hello, As someone who lost her home due to mortgage fraud/foreclosure in the state of GA in 2005, I am glad that the movie American Casino is coming out. Eugenia Renskoff

Sep. 02 2009 12:59 PM
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hjs from 11211

lori
"Regulation, regulation, regulation." costs money, those taxes that u don't like

Sep. 02 2009 11:17 AM
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john from office

So Sandra, I guess it was not Clinton who opened the door for this and the banking crisis. I must have misread my history.

Sep. 02 2009 11:04 AM
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Benjamin Farrar from Brooklyn, NY

Your guests mentioned that their movie does not take a stand on the issues it covers but rather just shows us the participants and lets them talk. However, the not-so-subtle music in the background of the clip that was played contradicts that statement. As you know, production choices make a HUGE difference, and in this case, the music is clearly telling us how to feel. There is nothing wrong with that, but your guests are clearly fooling themselves if they believe in their neutrality.

Sep. 02 2009 11:04 AM
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Marc from East Village

BL/Producers-

What was that terrific song you just played with the lyric, "What's the percentage on your mortgage?" That was great. Please site the artist.

Thanks,
-Marc.

Sep. 02 2009 11:04 AM
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BigGuy from Forest Hills

I still have my premium from Fannie Mae at a Recruitment Fair in 2006: a deck of playing cards.

That's telling.

Sep. 02 2009 11:03 AM
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Sandra from Astoria, Queens

John from office, I know. Whenever I as a liberal start talking facts, I've seen the eyes of the conservatives I'm talking to literally glaze over and they stop listening. Conservs only want to listen to what they already believe.

Sep. 02 2009 11:02 AM
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hjs from 11211


Lori "Regulation, regulation, regulation." costs money

Sep. 02 2009 10:59 AM
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Sunny Howe from Aiken SC

It seems that no one remembers that Michael Chertoff and the DOJ began cracking down on illeagle immigration in 2006. Remember the marches? Who do you think were the number one receivers of sub prime mortgages -- Illegale immigrants! I believe this started the whole mess.

Sep. 02 2009 10:58 AM
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Lori from Montclair, NJ

Well, people who took adjustable rate mortgages ALSO gambled. They gambled that interest rates would stay low, that their income would remain steady and that real estate values would continue to rise. (Nothing in our financial history supports this assumption.)

People were victims of course of predatory lenders but they were also victims of an unrealistic amount of optimism regarding market conditions (when all indicators were pointing to a bubble about to burst) and living/spending beyond their means.

Regulation, regulation, regulation.

Sep. 02 2009 10:55 AM
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john from office

This conversation is why people eventually stop listening to liberals. This is an obvious attack on Mr. Bush, when Clinton was the president who opened the door for these practices. An unfair attack, just stops me from listening to the rest of the argument.

Sep. 02 2009 10:53 AM
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