Here We Go Again...

" Can't believe -- Do you remember the sub prime mortgage mess boom -- Everybody bought the house four times they could afford not everybody. And we're promised you know magic miracles. It was stupid. It didn't work and now we're doing exactly the same thing with health care and that. I mean unless people stand up doesn't do it. Charles Payne Fox Business Network also the CEO Wall Street strategies. Charles first -- tell -- went to Harlem with you today had a great time there was really great. To work about a piece. Four -- and I think maybe next week with you on where you grew up and and the stories and what it means today and it's just. The straight to the front -- one OK so. Charles. Am I wrong to say that we're creating exactly the same message that now -- how to lose our house. It's it's the whole ball -- it's the country it's now."

" The whole ball -- in the same thing we could have had the sub prime problem message there was a for the federal government if it wasn't for Fannie Mae Freddie Mac facilitating those evil loans trying to keep hearing about they had to be a place to dump them. That became the place the --"

" And we wouldn't have had the risky schemes I mean people were greedy. Try to get me wrong but we also would have had the risky schemes. A lot of it if the government wouldn't have been pressuring these people. Business people to do things that they said that's not good business the bottom line is -- the real Genesis of you wanna go to the community reinvestment act. Which pressured banks to make these won't right. And they use the tactics of they went to the banks and said you're racist if you don't know what you're hate monger you just hate -- people whatever was. Isn't this the same tactic. And give me give you some."

" I was that pleaded guilt trip tactic -- you know and that's been that's really an incredible but because when you think that. We -- this is all supposed to be okay because it -- Fannie Mae. Freddie Mac facilitating this they're buying these loans everything's going to be okay and that's why of course Wall Street wanted to take advantage of -- You had somebody says that somebody else would take the right in -- that regardless nobody else."

" When we you when we put put the debt clock up here please and in look at that look at the debt clock which what is it okay here the 10 o'clock. The deal liability per citizen for all that 343763. Dollars. There's no way to pay that off."

" And and that's that's -- that's entitlement programs to write this health care is that the next biggest greatest entitlement program ever -- you take that just Medicare Social Security. 35 years of talk of 45 trillion dollars unfunded no I don't know where my."

" What are we talking about our unfunded liabilities on this debt clock Karen members what -- remembrance like 110 trillion now. So -- petroleum it's like a hundred trillions and all its its in the brain doesn't stop it's not alas 75. Brian. So -- so what happens when we lose. When the wind this mortgage goes down when this meltdown happens we lose the country -- that's I mean we we we will be a totally bankrupt company cut -- rather and do you do you believe it's true I talk to somebody who is. Very big hedge fund. And he was really frighten and he said -- I can't figure a way out. I can't -- way out I can't see that we don't end up Mexico 1995. In. 32510. Years tops."

" You know Moody's is already saying that may be in three or four years have been a downgrade us from -- country. Last year they said it would be ten years. That decision how rapidly this thing is moving to your point and there's no doubt about it in the way they're selling it to the American public this healthcare thing it's us. You know -- the CBO scored when you gotta be kidding me -- in the debate first scored the Kennedy bill. They said -- cost a trillion dollars and it wouldn't -- coverage of sixteen million more people now all of a sudden it's gonna make people money. It's got to make this much I think I'm Jack I have some action being Soria packages segment."