this time in. hope i live a bus like that. so. well 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 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 early you can. that's the rule and you can wait. ok you need so wealth. eve feasts raining if. you can stay there. if you go at six forty. this stuff they will going to park is the rule for the ship to. get in the six pm get out six six. so this is the inside of an s.r.o. and what you should know is that just recently underwent meditation and so

what you're going to see is actually a little nicer than what most of souls are but 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 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 eat. healthy yeah. you. had made it. in ahead of us. here is the shower. maybe you are twenty five people have to share this shower. that bathroom as well as the other brass the. could you live like this. for you know ten years fifteen years twenty years with a family. in the florida shelter i live in that. two fifty five.

and up but the man to take. to it. there's a little space this. studio. to so spencer because it's in the front of the city college. there before i work well i work all day. and they give so money fifteen hundred dollars for every two weeks for work every day all day. and we have we had no problem to eat to heat the children weren't cold. but now it's own bad and 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 cold body.

nobody chooses to be homeless nobody chooses to be in and sorrow. this is termed story ok and yet you know supposedly the worst 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 hill some of the richest people in the contrary live on top of that hill just a mano and a half away from summer for. thank

you for a home. this month to. the fact that they have it. over back then units that i think and i just went through he'll only do one hundred going. you know i'm going to fight them in numbers. is it's. have 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 that golding. so those problems with livered our sorrow that have to do with 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. five months all day every day. that will still have hope because.

i'm so tired of this. let me you're still about that. that's what i do it one thing 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 they 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 that i don't i don't understand exactly how that works.

i have no idea. no notion of some of prime 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 fix should notice that i was served this started. in. two thousand and eight i have been fighting my god oh oh please oh my god oh my god i'm here today because i fight against the banks not. last year many of you

went here and held my my they were alone services when they foreclosed on me after a two year battle to save my home by feel tings recent report that eighty part eighty four percent of foreclosures including mine have by donations of california foreclosures all the banks continue to foreclose any big families from their homes now i would like to introduce caroline k. . my day for the well for culture fight or. the last time you were here i took back my home after being displaced for nine months. where. i was in a four year legal battle against my think all the things that they stole my home to on november first of last year with the support of unions community and ace

foreclosure fighters i reclaimed by home. as we progress on this journey to take back our neighborhood i want all of you to join me so we occupy this home. free. when you take three. point three. three. three. three. old sleep on video for your media project c.e.o.

don carty dot com. well. it's technology innovation all the developments around russia we've got the future covered. let me let me i want all let me ask you a point. here on this network because we're right in the bank we have our knives out. in the fight with the banks thing never get here it is always with me and i don't want to talk about e-mailing me. all. you know sometimes you see a story and it seems so for like sleep you think you understand it and then you glimpse something else and you hear or see some other part of it and realize everything you thought you knew you don't know i'm sorry welcome to the big picture

. book. do you. believe. you believe do you believe. good news good news good good. i'm not going to have reoccupied we're kind of hard to keep hope and we're behind it from public or private bank no we're gonna stand at this spot on i now find

myself oh my that is how it how we're telling people not. on a line of excelsior and for all this city congress. did nothing wrong you walk out pre-medical now listen oh it's gone. some bankers and some gangsters and some. this was. some nasty. thing. right. you. should. do you. should. you. know what i have. zero. zero.

zero zero zero zero zero. zero zero zero one zero zero zero zero one. five what is. this this stock for. god's. sake you. ask. 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 then you know it's a smaller community but then tired 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 a four week two thousand and twelve you know and it's still a problem. as 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 they easily 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 nothing but 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 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 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 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 the 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 in 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. that. was. i. love hats the last says classic mord but i want to. find out. that it was bought for. the. amount of. the tongue. out of my mouth.

at the bottom of it. so i try to take the gentleman out of the. right to come with me to the club to work with the. exhibit even though it is the bottom of it begun to revive the bottom. will not. allow our. cars. that have. got a story. to us the thing that is strange is that nothing reaches us no letters no warning just today they've all your house and you have to go but nothing has arrived. for the world cup for the truck. but a cracker or car probably. the most of us we have all

the evidence to document slow. 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 not.

going. to. gina green 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 gina green and her center are now interested in irregularities made by banks in foreclosure procedures. so we're in east oakland we're in a 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 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're 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.

paul and john are going to washington d.c. and here's what's coming up tonight on the big picture. news that edward snowden has surfaced again in hong kong has reignited the debate about his role in exposing the n.s.a. surveillance program is he a leaker or a whistleblower a hero or a traitor sorry about that and more in tonight's lone liberal rumble also right here the richest country on earth one in five children don't have access to a steady supply of healthy food more on that with law and order's tamara tunie later in the show and oklahoma representative jim burdon stein wants president obama to apologize for funding climate change research but i.