The 2000s: The Platinum Age of Television TV - Frontline TV - The Fall of Lehman Brothers TV - Bankers TV - Charles H Ferguson TV - RBS: Inside the Bank that Ran Out of Money TV - Robert G Ingersoll - Danny Schechter & In Debt We Trust TV - CNN online - Arthur Miller - The Big Short 2015 - Freefall 2009 - Panorama TV - The Treason Trilogy 2009 - Tonight TV - Alexie Sayle TV - Britain's Housing Crisis TV -
The Sub-Prime Mortgage crisis has left millions of Americans struggling to stay in their homes and Wall Street is feeling their pain. The 2000s: The Platinum Age of Television VI, television news, CNN 2018
The road to riches for Bear [Stearns] was simple: buy hundreds of mortgages then bundle them into securities and sell them to investors. Frontline: Inside the Meltdown, PBS 2009
Bear had borrowed heavily to invest in toxic assets and other high risk securities. ibid.
They found billions in sub-prime default loans. ibid.
The so-called sub-prime mortgage scandal was born. The Fall of Lehman Brothers, BBC 2009
The real money for Wall Street banks came not from selling mortgages to home owners but from selling bundles of these loans among themselves and other institutional investments. ibid.
Repossession rocketed and house prices slumped. ibid.
From the late 1990s banks lent around a trillion dollars to Americans on low incomes to buy houses. Bankers II: Risking It All, BBC 2013
In the early 2000s there was a huge increase in the riskiest loans called subprimes. Charles H Ferguson, Inside Job, 2010
The investment banks actually preferred subprime loans because they carried higher interest rates. ibid.
Lehman Brothers was the top underwriter of subprime lending. ibid.
As early as 2004 the FBI was already warning of an epidemic of mortgage fraud. ibid.
Greenwich Capital made money out of mortgages. RBS/Greenwich Capital moved up the league table of mortgage traders. RBS: Inside the Bank that Ran Out of Money, BBC 2011
A mortgage casts a shadow on the sunniest hill. Robert G Ingersoll
The Crunch Is Coming ... Today most families will never pay off their mortgage because of constant refinancing. Remember when we called our homes our castles? Danny Schechter, In Debt We Trust ***** PSTV 2006
Mortgage Debt: 2005 $8.8 trillion; 1995 $3.4 trillion. ibid.
Home owners withdrew $600 billion in 2005 in equity for credit card bills and personal spending. ibid.
FBI warns of mortgage fraud ‘epidemic’. CNN.com September 2004
Figure it out. Work a lifetime to pay off a house. You finally own it, and there’s nobody to live in it. Arthur Miller, Death of a Salesman, Willy
In the late ’70s banking wasn’t a job you went into to make large sums of money. It was a fucking snooze. The Big Short 2015 starring Christian Bale & Ryan Gosling & Steve Carell & Brad Pitt & Hamish Linklater & Rafe Spall & Jeremy Strong & John Magaro & Finn Wittrock & Tracy Letts et al, director Adam McKay
In 2008 it all came crashing down … but there were some that saw it coming … the giant lie at the heart of the economy. ibid.
I want to short the housing market. ibid.
It’s time to call bullshit. Every-fucking-thing. ibid. Carell
I know what you’re thinking: what the fuck is a synthetic CDO? ibid.
These people are crooks and they should be in prison. ibid. short-seller
Watford 2007: There is so much dough floating around out there at the moment. They are throwing that wedge at us, yeah? And you can’t get no-one to borrow it? At 6%? Freefall 2009 starring Dominic Cooper & Aiden Gillen & Joseph Mawle & Anna Maxwell Martin & Rosamund Pike & Riz Ahmed & Alfie Allen & Sarah Harding & Charlie Creed-Miles, director Dominic Savage, Gus
I want mortgages, more mortgages, bigger mortgages, if they’ve got a mortgage, then remortgage! ibid.
We are liberating the market, we are enabling people, empowering people, tens of thousands, hundreds of thousands, millions of people who wouldn’t ordinarily get near a mortgage. ibid.
Owning a property like this is – death. ibid. Dave
We can pay next month’s instalment and then that’s it. ibid. Mandy
This is turning out to be real payback time. ibid. Gus
It’s been ten years since the government bailed out the banks. But thousands of families with mortgages are still counting the cost. Tonight we reveal how the government’s own bank charged exorbitant interest rates, evicted people unfairly from their homes, and then flogged off their mortgages to the highest bidder. Panorama: Trapped By My Mortgage, BBC 2018
Their mortgage is nearly two and a half thousand pounds a month … They are mortgage prisoners. ibid.
Sub-prime mortgages blighted whole neighbourhoods, boarded up houses were vandalised, driving down the value of next-door properties. The Treason Trilogy I: Casino Capitalism, Terror and Doom, 2011
Lives are shattered when people speculate in property. ibid.
It’s been ten years since the government bailed out the banks. But thousands of families with mortgages are still counting the cost. Tonight we reveal how the government’s own bank charged exorbitant interest rates, evicted people unfairly from their homes, and then flogged off their mortgages to the highest bidder. Panorama: Trapped By My Mortgage, BBC 2018
Their mortgage is nearly two and a half thousand pounds a month … They are mortgage prisoners. ibid.
Mortgage crisis – what does it mean for you? Who’s being hit the hardest? And first-time buyers locked out of the market. So what can you do if you are worried? Tonight: Mortgage Crisis: What Does It Mean For You? ITV 2022
In recent months the cost of a mortgage has skyrocketed piling yet more pressure on household finances. ibid.
Recently, defence scientists have developed a device which kills people in the most gruesome hideous way possible yet leaves buildings standing. It’s caused a mortgate. Alexie Sayle’s Stuff s2e1, BBC 1989
What we want to see is what I’ve called a property-owning democracy. Britain’s Housing Crisis I, Anthony Eden, BBC 2023
In the 20th century our politicians promised us the dream of home ownership. But in the 21st century that promise has been broken. Again. And again. And again. So what went wrong? ibid. captions
While ordinary people struggled to own – or even rent. This is the story of how a dream was destroyed by two decades of political and economic failure. ibid.
Buy-to-let lending: 2000, £3.9 billion; 2007, £45.7 billion. ibid.
The market booms as mortgages become easier than ever to obtain. Yet for the first time in a century, the percentage of households owning their own home starts to decline. ibid.
By 2003, UK house prices are rising at 20% a year. ibid.
In response to the Barker Report, the Labour Government makes increased housebuilding a priority. ibid.
The Government’s help-to buy subsidy is also enriching housebuilder shareholders. ibid.
Developers and investors have made a killing. Britian’s Housing Crisis II
Housing associations rent millions of properties to those on lower incomes. And there are concerns that homes which are sold off won’t be replaced. ibid.
As the government considers how to stop house prices going up, the Bank of England is taking measures which achieve the exact opposite. ibid.
The ground rent scandal is estimated to have affected 100,000 families. ibid.
400,000 social homes in England failed to meet the government’s own decent homes standard. ibid.