these are the images the world has been seeing from the streets of canada.

this time in. hope i live a bus like that. so. well with the. five months

six months it will s.r.o. stands for single room occupancy and for instance if you turn around. right here this is an s.r.o. this is an s.r.o. . sometimes are called manor or sometimes are called hotel but really what they are where housing of poor people people live in our sorrows because they can't afford to live any place else san francisco is one of the most expensive places. in the world and certainly the contrary in the shelter when we. we once get in it's six pm in the afternoons. case. it's a six pm they forget in. there if you want to get in

more airlie you can. that's the rule and you can wait. u.k. you need good so where else. eve feasts raining if. you can stay there. if you go six forty. this stuff they will going to park it did was for us to. get in the six pm get out six six they have. to let them out with. so this is the inside of an s.r.o. and what you should know is that. underwent renovation and so what you're going to see is actually a little nicer than what most of souls are but this will give you an idea.

so. as you can see. it's not that big this is basically an s.r.o. now think about how say there's like a bed here ok you know maybe a chair maybe a dresser and that's it now imagine that it's not just one person but it's a husband and wife imagine it's a husband and wife with two kids a magic it's a husband a wife two kids and a grandmother we can leave anything in the shelter. and here's the big role that. it's.

nick let's for the baby. is healthy. good medicine. and ahead of us. here is a shower. maybe you are twenty five people have to share this shower. that bathroom as well as the other brasil. could you live like this. for you know ten years fifteen years twenty years with a family. before the shelter i lived in the. two fifty five. and up but the man to take. to a. little space this. studio led to

so spencer because it's in the front of the city call it. there before i work well i work all day. and they give so money fifteen hundred dollars for a bit two weeks for work every day all the. help we had no problem to eat to heat the children weren't cold. but now it's own bad sometimes i feel like crying because i don't like nothing thanks. i don't like to walk around all day was the kid sister called me. nobody chooses to be homeless nobody chooses to be in an sorrow.

this is termed story ok and yet you know supposedly the worse name words in the city if you come down here oh. that's about maybe. a mile and a half away. that's not the real suburb the richest people in the contrary live on top of that hill just a model and a half away from some part. thank you for a home. this month to. the

fact that they have it. over back then what you need i think and i just went through he'll only do and how they're going. to come in and fight them in numbers. is it. had to. known that. nobody knew nothing about. and these. this overseas government then may you know you know a little bit. of this. i think in the last thing that for them to put some families in that. unit is that look inward the. golden state so those problems with livered our sorrow that have to do where is the health of the people that live in them

not only is it psychologically damaging but your physical health is at risk. oftentimes the paint is peeling there's mold and mildew. the water's not very clean not very hot sanitary. and your diet consists of whatever you can get in the stores. and sorry tired tired. of five months all day every day. that will still have hope because. so tired of this. let me you're still able to hear. that's what i. think someplace.

the proximity of rich and poor people you can cross the street you can you can buy drugs crack you know all that stuff from one part of the street and then you cross that street and there's a it's a big huge hotel there is nothing but rich people there that can afford to live in a hotel like that ok and yet there are you did was cross the street so so i mean that makes no sense to me that there are so many rich people and so many more poor people living so close together at l.

i don't understand exactly how that works. i have no idea. no notion of some of prime bending rates or predatory loans

or what they were by mortgage companies. to take a refinance because i have failed back on my mortgage payments my payments escalated to sixty seven hundred dollars this is an unlawful detainer and eve fix should notice that i was served this started. in. two thousand and eight i have been fighting my god oh oh oh oh oh oh oh oh oh oh my god i'm here today because i fight against the banks not. last year many of you went here and you know my my they were alone surface when they foreclosed on me after

a two year battle to save my home by feel things recent report that eighty poor eighty four percent of foreclosures including mine have by glaciers of california foreclosures all the banks continue to foreclose any big families from their homes now i would like to introduce carolyn again. my day for that well foreclosure fight or. the last time you were here i took back my home after being displaced for nine months. i was in a four year legal battle against my think all the banks that they sold my loan to on november first of last year with the support of unions community and ace foreclosure fighters i reclaim my home. as we progress on this journey to take back our neighborhood i want all of you to join me

to free occupy his home. town. free good to take three. point three. three. three. three. old seaborne video for your media project c.e.o. don carty dot com. well. technology innovation all the developments from

around russia we've got the future covered. ok sure yeah so. strange quality enjoy your favorite song choice if you're away from your television just doesn't know where your mobile device you can watch on t.v. anytime anywhere. that we have reoccupied we're kind of for the people and we're finding it from probably a brother k. don't we understand it just fine fine as a moment that is growing and we're telling people about you know lines of excelsior and for all this city town just. did nothing wrong

you are premeditated now listen i was wrong on some banks there's been some gangsters and some. oh. do you. know why should i live. have. zero. zero. zero zero zero zero zero zero zero.

zero zero zero one zero zero zero zero one. five what is. this this. for. you. actually i'm i'm. i'm i'm. i'm i want to move back into my home. to home my family and i we've created and we started our want to move back into my home from two thousand and eight to the end of this year will see two million homes in that situation in san francisco it's twelve thousand six hundred fifty five in this district in this area fifteen hundred and you know it's a smaller community but the entire district is about thirty five hundred and the

fact that it's not a this is not a surprise this is a problem that's been going on since two thousand and eight two thousand and seven and it's like where we twenty twelve you know and it's still a problem. is that tell you you know it's like there has to be real political will there aren't enough laws to regulate the banks and you know they do whatever the hell they want. the u.s. banking system has considerable freedom indeed from two thousand and one to two thousand and eight one had access to a mortgage no matter your credit history or the reason why you want to do all the bank's board then aid. to transform loans into stocks to bet on the exchange market help with the security given by ratings agencies these really transformed loans into financial securities any kind of risk was dumped on the stock market and banks

started a period of generous giving and easily accessible refinancing. and here you have you know these loan programs that made it very easy to borrow money and you didn't have to qualify you didn't have to show the income and the government is saying help people borrow money make it easy for people to borrow money in the investment bankers are saying we can make a lot of money or people can borrow money let's relax all the rules. so that so this is a standard what they call ten o three form it is a loan application that a client would complete when they're looking for a loan we go to the next page and we see where they put their income now as i said in the old days they would just write a number in there and the banks in some cases wouldn't even verify that that is actually the amount of money they made you know i lend you two hundred thousand

dollars but you only have to pay an interest rate of one percent but the real cost of you borrowing might be four percent or five percent or eight percent so there's this tremendous disparity between what you are pain for the loan and what you are being charged for the law does about the size and the weight of the loan application from two thousand and one two thousand and one through two three four five six seven this is pretty normal this. is normal. and i think this is done on purpose the banks make it as complicated as possible in this transaction you may sign. i don't know let's say two hundred different forms that are forms that explain what you're signing and very few if any probably none clients actually read those documents but he don't have to do anything just sign

here well maybe dad wasn't that well educated any signs of paper because the person who comes to the home is a very nice person says just sign here your payments will be one percent don't worry about it and there are people that believed people like that and that is also true so there were people who were unrealistic every step of the way from government investment bankers greed on the part of the borrower ignorance unfortunately on the part of the borrower dishonesty on the part of the banks and the people that work for the banks that were in charge of making sure people wrote loans and made loans to people yeah. because the bank had very little liability even though that bank made that loan that they knew was very risky where they may be lending one hundred percent of the value where they may be lending it to a person with bad credit where they may be lending it to a person who they haven't even verified their income they were turning around and

within thirty days selling that loan to an investor taking away their liability so they made all their fees and their money upfront in originating the loan but then had very little at risk because they were able to package all these loans sell it to investors i mean that's that's the reason why they made them that's the reason why the thing went wild during that period and you know it's it's. the big mortgages and i'm not not mortgage but the big institutional banks that package the soul of the international investors europe was definitely impacted by buying these. what were supposedly safe investments because they were backed by homes and or real estate in the united states but they weren't safe because they they were done so so poorly.

i. love hats the last says toxic mortgages but i want to. find out. about it out of pocket for. the. amount of. the tongue. out of my mouth. at the bottom of it. so i try to take the phenomena out of the dollar amount that she's right that comes with

a lot of the work was. good but even though at the bottom of it. funded to provide the bottom. will not. come back up in. part because i. was happy to. get a bargain and to us the thing that is strange is that nothing reaches us no lectures no warnings just today they've bought your house and you have to go but nothing has arrived. the world cup. broke up the truck our love for our car probably. the most of us we have all the evidence document slow. tears that we have sent to modify the loan but the bank suddenly sold our house during the process they never

said no or yes so you will not be just sold it i mean. that's. how. i know. i know i know i. have arrived. i. am. going to. jena green is the director of the

center for responsible lending a financial consumer protection agency to task evaluating which financial instruments are unfair to the client after toxic mortgages gina green and her center are now interested in irregularities made by banks important closure procedures. so where in east oakland were in the neighborhood east oakland hills it is a predominantly african-american community. and it was really you know this is one of the neighborhoods in oakland that was really rocked by foreclosures in fact he'll notice in california that african-americans and latinos where despite the. actually affected by the foreclosure crisis the assessor filtering in san francisco he did it he took

a sample of loans and looked at them and found that they had widespread problems that's just a sample so if we were to actually look at the entire universe of loans we would probably find comparable statistics for the whole and many people might have been erroneous lee foreclosed upon so what that means is that folks who have been displaced who have lost their homes who have had to move in to relocate might not have been required to do that they might have been able to stay in their home it's really dangerous when we think of from my perspective one of the things that i'm often troubled by is that five six years ago. the marketplace was churning out these really bad loans and now they are churning out foreclosures and with the same disregard you know those loans they made in two thousand and ninety nine should never have been made and now are having foreclosures that should never

have happened. wells fargo was one of the five largest u.s. banks involved in the mortgage scandal recently it's been accused of racial discrimination by the city of baltimore for forging the records of many of its african-american customers.

the news today violence is once again flared up. these are the images the world has been seeing from the streets of canada. operations to rule the day. let me one wouldn't let me ask you a question. here on this network as we're having the debate we have our night so. we do feel the slightest staying there to get here in this race will be an idea to talk about the surveillance.

on joe right in washington d.c. and here's what's coming up tonight on the big picture. the privatization of our national security apparatus isn't just sucking up your taxpayer dollars it also contradicts the founding principles of our republic and more on that in just a moment and with big banks like well like bank of america taking a record profits once again the chips are in place for another financial crisis well wall street's methods may be complex the way to stop its abuses is simple so how in tonight's guilty take.