a highway built on the bones of its maker it's the wind through one of the wildest and most beautiful regions of russia a place that's home to less than a million people and the keepers of the great frosts. join me james brown as i travel to the coldest inhabited place in the world. and meet some of the toughest people and hardy astronomers on the planet. just make sure that you keep your eyes on the road. race to the poll of polls only on three.

this time in. hope i live with us again. so. we're the. five months six months away s.r.o. stands for single room occupancy and for instance if we 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 there for get in. there if you want to get in more airlie you can. that's the rule and you can wait.

u.k. you need so wealth. eve fees draining if. you can the state. 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 lock 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 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 shelves. and here's the big role that. it's. nick let's for the baby. is healthy.

blood. and 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 brass the. 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 i give so money fifteen had to 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 my face. i don't like to walk around all day was the kids in the cold body. nobody chooses to me home 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 nabucco some of the richest people in the contrary live on top of that hill just a model and a half away from some part. to queue for home. this month to. the fact that if they have it. up over back then you need ice and i just went

through he'll funny though and how they're going. to come in and fight them in numbers. this olympics. had to. known that. nobody knew nothing about. and these. this overseas government then maybe you know you know a little bit. and with this. i think in the last thing that for them to put some families on that. you know that is the name of the girling golden state so there's problems with livered our sorrow that have to do where is the health of the people the liver now 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. so tired of this. let me your story about that here. is what i. think someplace.

the proximity of rich and poor people you can cross the street you can you can buy drugs crash 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 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 fix should notice that i was served this started. in. two thousand and eight i have been fighting my god oh please. i'm not come. my way out 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 people are eighty four percent of foreclosures including mine have died like sions of

california foreclosures all the banks continue to foreclose any big families from their homes now i would like to introduce carolina game. my day for himself or college if either. was 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 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.

and we. are going.

good. to you do you good do you think the old beauty. that we have reoccupied we're kind of for the people and we're behind in a phone call and for public we understand that just relying on fine as a moment that is growing and we're telling people of the. lines of excelsior and for all the city. shows how. nothing

you are. the same goes wrong on some banks doesn't some gangsters and some. of us why. do you think. we should allow. remember aright. you. know why i have zero five zero. zero. zero zero zero zero zero. zero zero zero one zero one.

five what is. this this. time i was. actually i'm i'm. i'm i'm i'm i want to move back into my home. my family and i we created and we started our 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 twenty 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 ali's into stocks to bet on the exchange market by the security given by ratings agencies be 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 to 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 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 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. 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 investment 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 classic board but i want to. find out. that it was out of what we bought for. my mom. doesn't come. out of my mouth. at the bottom of it. so i try to take the phenomena out of the holiday. she writes that come with me to the club to work with. it but even though it

is the bottom of it. funded by the bottom. it was not. happy. at the time. i was happy to. get 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. the world cup. broke up the truck. the crack of her car probably. the most of us we have all the evidence 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. our. i know what i know i am not. going to. turn 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 gina green and her center are now interested in irregularities made by banks in foreclosure procedures. so where 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 described. 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 fall in comparable statistics for the whole the 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 you know 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 is 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.

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