Home » The American Nightmare: 10 Years After the Financial Crisis | Episode 1 financial crisis 2008

The American Nightmare: 10 Years After the Financial Crisis | Episode 1 financial crisis 2008

by Langsongshipin123

On the 10th anniversary of the national housing crisis, four families told us about losing their homes and how they’re still struggling to recover. Long after the Great Recession ended, they’re still feeling the effects of the 2008 crisis, and they remain wary about possibly facing another one in the future.

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The American Nightmare: 10 Years After the Financial Crisis | Episode 1

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TAC&COIN 12/09/2021 - 5:43 PM

How do you not have savings!??? Holy fuck

Another Butt4Chair 12/09/2021 - 5:43 PM

Everyone forgets but man that was rough, being out of work, hope everyone recovers from it. I really think some of my friends play it down and that does a disservice to all the people that suffered.

Neon Noir 12/09/2021 - 5:43 PM

These are people who took on mortgages their earnings didn't support, making themselves house poor. Lying about income should be punishable by jail time. Do not loan to risky people, they're risky because they're irresponsible.

Plague 12/09/2021 - 5:43 PM

2021 here we go. I'm in a similar boat only I make 5k a month. Still can't find anything and I gotta move in a couple months. Opposite land. Everything is expensive as hell. Life.

klutzycutie 12/09/2021 - 5:43 PM

This happened to me almost where my family was in foreclosure. It took them 2 years to move forward cuz there were so many homes in foreclosure. Then if took another 3 years when we worked out a modification but it wasn’t easy. We thought we lost it at one point. We had an amazing lawyer.

Sithu Kyaw 12/09/2021 - 5:43 PM


Marshall J 12/09/2021 - 5:43 PM

it's not right . the bank will up and leave you high and dry while taking your money , then you get in the the Court and they embarrass you. there should be a safety net for responsible people who are actually spending responsibly. hard working people should have more of the opportunity to stay in their home rather then people who just neglect the loan. it's gross

Michelle Perez 12/09/2021 - 5:43 PM

I remember having clients homes foreclosed by Wells Fargo needless to say I no longer work for Wells but it is terrible what banks do to profit off of individuals who may not be very educated on this topic. An adjustable mortgage or product in the end profits the bank and they have a low interest in the beginning to entice consumers but they are able to raise it to the max interest I’ve seen this too many times. It’s vital to budget and live very minimalist

Lars Lindemann 12/09/2021 - 5:43 PM

"I felt sorry for those people!"

Apes together strong 💪❗🙌🚀💸🐒 AMC Entertainment

Sara Jean 12/09/2021 - 5:43 PM

My dad who should be in his own home- still, here in reno- I remember this… My dad now lives in the converted garage in this rental im renting. We should be in the home I remember him working his whole life and sank into owning a home generational wealth.. gone.

Igor Bogdanoff 12/09/2021 - 5:43 PM

May these banks eventually become what taxi drivers are to Uber. Cryptocurrency adoption will wipe them out.

anthony sanchez 12/09/2021 - 5:43 PM

Fuck a bank quit taking money from a bank you are working for a bank when I do that bad eng we gota work to pay bills

Patrick Morrison 12/09/2021 - 5:43 PM

champion mortgage try that with me and on the paper no sign and told to get lost fixed rate is the best

luckypapi87 12/09/2021 - 5:43 PM

We never recovered from this and its gotten worse since this year's pandemic

CHU_WORRY 23 12/09/2021 - 5:43 PM

Corona virus 2020

Sergio Zamorano 12/09/2021 - 5:43 PM

This bubble happens because houses were seen as a money making machines. Loan companies were giving money to people that couldn't not afford the payments of the houses. This brought a collapse from the houses

rockfordfos1 12/09/2021 - 5:43 PM

Guess what we are having another crisis on the horizon and it doesn't look bright. Foreclosures and bankruptcies job losses!!

Diego Lara 12/09/2021 - 5:43 PM

I remember people all around me who made minimum wage picking fruits from the fields were buying 2 story homes and I always wondered how they were able to afford a home like that. When the bubble bursts and the majority of them lost their homes then I came to understand. They weren't able to afford them.

princesssadieloo 12/09/2021 - 5:43 PM

The look in her eyes brings me to tears, just imagine bringing your baby to court knowing you can’t provide a roof to keep him/her safe… I pray she has bounced back on her feet… I watch this documentary when I feel I’m growing materialistic… And it does ground
me, time after time. Be safe everyone, 2020 has proven to be such a difficult year…

jay rider 12/09/2021 - 5:43 PM

I really surprised that it's not happening again in 2020

Kristian Roberts 12/09/2021 - 5:43 PM

I don't hear or see anyone shedding light on the fact that the interest rates were raised in a criminal malicious way so that there was no way for one to have a chance at all to pay it back. Also jobs were cut so it really would not matter if you had a good loan or not. They wanted everyone to fail.

Z 12/09/2021 - 5:43 PM

Discriminatory? They preyed on everyone with low income, regardless of race.

rick love 12/09/2021 - 5:43 PM

I bought 5 house from guys like this lady

resortpoint 12/09/2021 - 5:43 PM

Why do people need to have 9 kids? I don’t understand.

Rod Seller 12/09/2021 - 5:43 PM

I'm trying to be as honest as possible we never recovered from this. It's still ongoing right now as we speak.

ableasdale2000 12/09/2021 - 5:43 PM

Regulation should not try to protect people against the consequences of their own stupid choices.


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