don t take our homes. and jesse jackson s protesters are in the streets criticizing the banks. they claim predatory lenders tricked people into taking out unaffordable loans. but is that true? the federal reserve bank of atlanta found unaffordable loans are unlikely to be the main reason that borrowers decide to default. if predatory lending isn t the main driver of default then what might be? you walk away.com. companies that encourage people from walk away from commitments sure don t help. you walk away.com. sounds something dirty about that like walk away from responsibility. that s the myth, i think, in society that there is this moral obligation to continue paying a mortgage. john: there is. there is no think obligation. chad ruyle calls it a strategic default. if your house is worth less than your mortgage, just stop paying.
g.e. would not agree to be interviewed. maybe that s a good thing if it means companies are now getting embarrassed about the handouts. 13 years ago when i wanted to confront a business about its free loading. the ceo was so brazen he flew me to his headquarters in one of his fancy jets. cold, isn t it? gold plated. can i get you anything else? at this time this man was the biggest resim yent of handout. you are a big feeding at the welfare trough. why should i care? it doesn t bother you? not a bit. many beneficiaries of corporate welfare really believe that they are being paid to help the country. what i m providing is so good that it ought to be subsidized. fortunately a lot of american companies have become moochers off the government. they go to the government to manipulate the system in their favor. that s not what business is about. that s not what capitalism is
obama. [ applause ] jeff immelt is perhaps the ceo who is most cozy with president obama. jeff immelt was recently named the country s job caesar. i m proud and breezed that he has agreed to chair this panel. general electric is structuring their business around where government is going. everything around high speed rail, solar, wind, general electric is winding up to get what government is handing out. the new york times so many tax breaks to g.e. thanks to their fierce lobbying that despite billions of dollars in profit, they will pay no taxes this year. once upon a time in america, companies got money from investors and created wealth by inventing things. 25 years ago my friends and i started with nothing but an idea. microsoft did that they started with nothing and created billions in shareholder wealth.
obama. [ applause ] jeff immelt is perhaps the ceo who is most cozy with president obama. jeff immelt was recently named the country s job caesar. i m proud and breezed that he has agreed to chair this panel. general electric is structuring their business around where government is going. everything around high speed rail, solar, wind, general electric is winding up to get what government is handing out. the new york times so many tax breaks to g.e. thanks to their fierce lobbying that despite billions of dollars in profit, they will pay no taxes this year. once upon a time in america, companies got money from investors and created wealth by inventing things. 25 years ago my friends and i started with nothing but an idea. microsoft did that they started with nothing and created billions in shareholder wealth.
obama. [ applause ] jeff immelt is perhaps the ceo who is most cozy with president obama. jeff immelt was recently named the country s job caesar. i m proud and breezed that he has agreed to chair this panel. general electric is structuring their business around where government is going. everything around high speed rail, solar, wind, general electric is winding up to get what government is handing out. the new york times so many tax breaks to g.e. thanks to their fierce lobbying that despite billions of dollars in profit, they will pay no taxes this year. once upon a time in america, companies got money from investors and created wealth by inventing things. 25 years ago my friends and i started with nothing but an idea. microsoft did that they started with nothing and created billions in shareholder wealth.