this time in. hope i live with us again. so. with the. five months six months that 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 this is 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 you can wait. no you go you need good so where else. the fees raining if it's so close. you can the stay there. if you go six forty. the stuff they will

going to put out is that rules for the cell to. get in the six pm get out six six they have. to let them up with. so this is the inside of an s.r.o. and what you should know is that this recently underwent motivation and so what you're going to see is actually a little nicer than what most of songs are but this will give you an idea. so. as you can see. it's not that big and this is basically an s.r.o. now think about how to 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 shelves. and here's the big brawl that. is. my shoes. nick let's for the baby. is healthy. and made it. and had a fast pass. and here is a shower. maybe

you are twenty five people have to share this shower and 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 know that for every two weeks for work every day all day.

we had no problem to eat to heat the children weren't cold. but now it's oh a bad sometimes i feel like crying because i don't like nothing thanks. i don't like to walk around all day was the kids in the called me. nobody chooses to be homeless nobody chooses to me and has 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 a mild maybe. a mile and

a half away. that's not bill some of the richest people in the contrary live on top of that hill just a mano and a half away from some part. thank you for a home. this month to. the fact that they have it. over back then units that i see and i just went through he'll funny though and how they're going. to come in and fight them in numbers. this olympics. have to be.

known that. the one thing above. and these they go. this over is this government then maybe you know you know a little bit. of this. thinking the thing that for them to put some families on that. you know that is the look inward the. lives they so there's problems with livered our sorrow that have to do with the health of the people that live in there 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 terry tired tired. five months all day every day. that will still have hope because. i'm 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 that is nothing but rich people 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 as am i don't understand exactly how that works.

i have no idea no notion of some private bending rates of 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 fake should notice that i was served this started.

in. two thousand and eight i have been fighting my god oh. my god oh my god i hear today because i fight against the banks not. last year many of you went here and you know like my day already loaned services when they foreclosed on me after a two year battle to save. 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 caroline gate. my day for himself or college if

either. 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 and all the things that they saw my loan to on november first of last year with the support of unions community and ace foreclosure fighters i reclaimed my home. as we progress on this journey to take back our neighborhood i want all of you to join me to occupy his home. yet.

you know sometimes you see a story and it seems so for lengthly you think you understand it and then you glimpse something else and you hear or see some other part of it and realized everything you thought you knew you don't know i'm tom hartman welcome to the big picture. wealthy british style. restaurant. markets why not kendall find out what's really happening to the global economy

with max cons are there are no holds barred look at the global financial headlines tune in to kaiser report. i would rather ask questions to people in positions of power instead of speaking on their behalf and that's why you can find my show larry king now right here on r.t. question more. the old good as.

good as good as good as. the old as good as good as good as. a thank. you reoccupied kind for the people who were behind in a phone call the koch brothers we understand that this guy. with a movement that is growing and we're telling people of the. of excelsior this is. nothing you are

you. are saying some bankers and some gangsters and some. thank you thank. you thank. you thank. you thank you. thank you. we should. you. know i have zero zero zero. zero. zero zero. zero zero zero zero zero zero zero zero one. five

what is. this this cost for. you. guys i'm i'm. i'm i'm i'm i want to move back into my home. my family and i we've created and we want to move back into my. own 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 thousand and twelve you know and it's still a problem. does 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 by the security given by ratings agencies they easily transformed loans into financial security 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 paying for the loan and what you are being charged for the loan 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 you 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 some of 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 loan but then had very little at risk because they were able to package all these loans sell it to investors. and 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 conflict lord but i want to. find out. that it was fun or. that. my mom. doesn't know. how to my mom at the bottom of it. so i try to take the phenomena out of the dollars.

she writes that comes with the club to work with. but even though at the bottom of it. funded to provide the bottom. will come. out that. our cars. have. got a car 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. or the world cup. broke up the truck. or car across. the limo told us we have all the evidence documents less. tears that we have sent to modify the loan that 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 am i have arrived. i'm brooke. baldwin and. i'm in. jena greene is the

director of the center for responsible lending a financial consumer protection agency with a task evaluating which financial instruments are unfair to the client after toxic mortgages seen in her center are now interested in irregularities made by banks in foreclosure procedures. where east oakland where 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 heald notice in california that african-americans and latinos were disproportionately. 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 fine comparable statistics for the whole a 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 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. i. was. going to use you very. very soon. you will see that he was a it

a i hate. to disagree with. was he a it may. not. need to be in the morning and he didn't. actually believe. he. was. wealthy british style sun it's time to.

market why not come to. find out what's really happening to the global economy with my concert for a no holds barred look at the global financial headlines tune in to kaiser report on our.

empathize having dreams for a very similar situation myself. trying to actively support through this interviewer and otherwise use the slogans. wiki leaks founder julian assange praises as our hero the man who blew the whistle on the u.s. internet snooping program and this is you talk to watty about one of the biggest political leaks in history. and the government unrest rages in turkey with police showing force in a brutal crackdown on activists that as the prime minister missed out of the one pledges to show no mercy to protest it's. also a standoff between anticapitalist protesters and hundreds of riot police in central london blocking a week until the g eight summit.