Wall Street bankers made billions of dollars selling toxic subprime mortgages to people who had no idea what they were agreeing to, but they were sold on the idea that the bank would take care of them and they would finally be able to buy a house. After these people were duped into signing, the banks raised interest rates, forcing more mortgage defaults than you could count. But now cities across the country are fighting back against the banks. Ring of Fire’s Mike Papantonio appears on The Thom Hartmann Program to discuss this.
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