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Published: Tue, 6 Oct 2009
Description: Part 3: Hannity, Moore face off on cause of mortgage meltdown
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" And we continue now with more of my exclusive interview with filmmaker Michael Moore. You do support law enforcement raid near the disease is this a trick question no I guess I'm assuming break of course has sold the FBI. Good guys right FBI most of them -- a -- there are some bad legs occasionally -- as an institution institutions you're okay. Well they said that this mortgage crisis this mortgage fraud has been perpetrated. The stop them because of the sub prime borrowers that the people that are poorer working class. It's been caused. By the bank's view this is their statistics show on 80% of the mortgage fraud. Has been cause for the banks and the lending institutions. Eighty per everybody got greedy and unconditionally everybody would -- 80% government but let me keep my. I don't necessarily win and -- I got into the business of of figure to have all the white collar fraud unit here which bush W. Would a depleted their unit and move them out of white collar we cannot answer my question during the during the worst white collar. Crime that was going on is there -- no responsibility. At. All from the borrower if they buy a house that they can't afford who do you want to pay for the house that they decided to buy they signed their name. Who should pay for that house that they can't afford instead of evicting them. First a lot of were swindled and they were lied to. These these contracts that you with a balloon payments would you be if you read the -- one reason Hillary no you couldn't find you know sort of contract without reading. I think we often a lot of missed I don't you don't know I don't -- it given mortgage I had read every page you read that you read the fifty elusive. No I'm impressed I'm have you read your health care contract with fox I had that in -- an -- and why did you not gonna get sick you married -- nobody got hurt because when you get sick in the closet there somewhere where they -- absurd for you this movie come February you will be contract yes I have -- contract on radio -- TV I read every -- so why does so at -- point is. I do feel sorry for the Michael. I really do and if you go to the start you feel sorry for the people have been scandals no I feel sorry for people that. In some cases perhaps is some truth to it. But they also have a responsibility. Now think about this if you put your name on the dotted line and a legal document don't you bear responsibility people have been deceived and have been exploited. No this is like this is like no responsibility at all for that. No that's like asking all woman how short -- your skirt. After she's been -- that's that's assessed I don't know about you wouldn't have finally the victim for that. And why are we walking an outsider Tom so they should note that there will be no payments they shouldn't read that they should hire a letter read a form. A poor person but yeah. -- by the house Michael. You don't understand what's going on here that I support my life thought of the department's I couldn't even afford to pay my rent and I would paint the apartments from my Whelan. There -- always been people. Who have lived beyond their means we all know who they are and there's probably -- in every one -- our families or friends or neighbors or when they lose their palisades new but they've never -- they crash. Of this proportion before -- death because they can't. They don't have the assets in the money to be able to cause the crash -- was caused by the people downtown here. Poor moving money around taking bets out of money derivatives credit default swaps insurance on the -- gonna bet on the insurance. That's why we ended up in the situation here. I -- you don't know it's fitting that everyone is everyone acknowledges that and that's our patty when that could known not everyone when the government. When we got to be dictated that the financial institutions and banks had a lower their standards a -- they. They would have be at risk of punishment from the government. Then people who normally wouldn't get loans will work taking loans that they couldn't afford to pay back you think that's -- part of it yes you know a big part of -- very big part of -- FBI says maybe 10% of valid point let me ask you -- disagree -- I disagree with you. You know what you're saying you decide who qualifies disagree with you disagree with long wanted to put any crap you don't want that in any -- any individual that I just said there are always people who live beyond their -- is an excellent small small piece with. Still the number one reason why people lose their homes. Medical bills it's the number one reason for bankruptcies. And yes -- why don't you get behind universal health care for everybody let me ask you one last question why don't we don't believe that I just -- your question -- to get behind universal health -- president of the author of some going into that now here's my point. What's the answer that. If we don't have capitalism and I'm not think capitalism is perfect I don't think we hit I think we can make improvements I think they're unethical people. That runs some businesses but there are some very ethical people that. Create goods and services that we want need and desire to get a lot of ethical people -- I think you say you're not the person -- and is a lot of small business people who struggled to get by. You know I'm I'm not against when you say I'm against capitalism and against what it has become. What way in some instances in most instances downtown here in the big picture of how this economy is being run. A public monies being moved around with me we don't make things anymore Sean if you recognize that I've made me of my whole life I -- might agree with we don't we just make money off money now. We hope people do and some people do it and ethical way some people who have been the worst of stuff where's the next convention where's the thing. Where's the incentive for our young they're the ones that provide these startup company sometimes that the money that gets you know the next new drug that's gonna extend to prolong our life they're the ones they create the goods and services that we desire every day and coming up now."
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