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 and often and. if. it's a six pm day for get in. there if you want to get in more early you can. that's the rule and you can wait outside. no u.k. you need so where else. you feel is the raining if. you can stay there. if you go six forty. this stuff they will going to park is the rules for the show to. get in the six pm get out six

six see if. they want to live with. it so this is the inside of an s.r.o. and what you should know is that. recently underwent meditation and so what you're going to see is actually a little nicer than what most officials are but just to 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 to say there's like a bed here ok you know maybe a chair maybe a dresser and that's it now imagine. 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. in here's the big role that. these thoughts. my shoes. nic let's put the baby. is healthy. 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 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 this in the front of the city college. there before i worked 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 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 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 a mild 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 someone for. thank you for a home. this month to month eight thousand two hundred the fact that they have it. over back then units that bites and i just went through he'll only do and how they're going. to come in and fight them in numbers. this olympics. i have to. own that. nobody knew nothing about. and these they go.

this over this is over them and then maybe you know you know a little bit. of this. i think in the last thing that for them to put some families on that. you know that is the name of the. golden state so those problems with livered our sorrow that have to do with 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. of five months all day every day. that we'll still have hope because. i'm so tired of this. let me you're still public that. that's what i call 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 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 payment so 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. my god oh my god i'm here today because i fight against the banks not home. and last year many of you went here and you know my my they are alone service is when they foreclosed on me after a two year battle to save my home despite field things recent report that eighty poor eighty four percent of foreclosures including mine have died like shin's 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 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. load.

wealthy british style. market why not come to. find out what's really happening to the global economy with mike's concert for a no holds barred look at the global financial headlines tune into kinds a report on our. we speak your language not a day in. school music programs and documentaries in spanish what matters to you breaking news a little tentative angles couldn't stories. you hear. detroit all teach spanish find out more visit i.

download the official publication to your cell phone choose your language stream quality and enjoy your favorites. if you're away from your television just doesn't matter now with your mobile device you can watch on t.v. anytime anywhere. you know sometimes you see a story and it seems so 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. i'm tom harkin welcome to the big picture.

the thing. that we really occupy we're kind of for the people and we're behind it from probably for brother joe we understand that this year i hope you find some movement that is growing and we're telling people of the view. of excelsior for all this city that is trying to show. you what you know. now listen to some bankers and some gangsters and some. some not i think i was. thinking. right now you. are.

do you think. we should i live this. you. know what i have zero. zero. zero. zero zero zero zero zero zero zero. zero zero zero one 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. 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 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 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. well to transform loans into stocks to bet on the exchange market by 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 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 were paying for the loan and what you were 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 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 in impacted

by buying these. what were supposedly safe investment because they were backed by homes in a real estate in the united states but they weren't safe because they they were done so so poorly. that. was. our club hat. the glass says. six lord watch i want to. find out. what it was by.

the. amount of. the tongue. out of my mouth. at the bottom of it. so many times that the coming out of the. right that comes with a lot of the work was. good but even though even the bottom of it begun to provide the bottom. there was no not. at. the top part. of that have. got a story and two was the thing that is strange is that nothing reaches us no letters no warning just today they bought your house and you have to go but nothing has

arrived. for the world cup for the truck. but the crack of her car across. the limo told 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.

all of our. i mean i think i know i know i have never bought. i. don't call money. gina green is the director of the center for responsible lending a financial consumer protection agency the task of valuating 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 despite . 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 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. was.

right to see. her strip. and i think picture.

on our reporter's. in their lives and still live lives in the live in laughlin. live live . live. live live. live

. i've seen the perception of the cross many times it doesn't matter if there's snow a heat wave or hail stones from people keep on going i don't expect anything just one i told myself i keep on going as long as my heart told me to that's all i want to at the moment. i have send so mind she's seen i'm carrying these sayings on my shoulder. do you want me to put a bandage here you know that's fine

a lot of people were so exhausted they could barely walk their feet hurt and some of them fainted with the evacuees three two wanted to keep going i don't know what tomorrow will bring.

the n.s.a. is moscow actually no phone calls and e-mails will go on as the u.s. congress now rejects education and aimed at curbing the government spying activities. whistleblower edward snowden could make russia his code but still lacks the paperwork to walk out of the moscow airport transit zone where he's waiting for a decision on his asylum application. how could we ask our brave young men and women to fight against al-qaeda in some countries and al-qaeda in other countries u.s. filmmakers and taco bell has plans to send weapons to the sewer and opposition as rebel leaders travel for an informal meeting with the u.n. security council and america's secretary of state. and the jailing of full russian oligarch to hail fellow.