MovieChat Forums > Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders (2006) Discussion > This was made in 2006. Look what has hap...

This was made in 2006. Look what has happened since.

posted 14 years ago by jmars35264
4 replies | jump to latest

The mortgage and credit markets crashed and burned in 2007. All the warning signs were shown in this film and here we are 3 years into this severe recession still digging ourselves out of this mess we all knew was coming. Buying inflated priced homes, then getting home equity loans against these inflated values and maxing them out has put many people so far upside down in their home it only fed the fire that led to the housing crisis. Then the unemployment crisis, banking crisis, it was all a hugh snowball effect that I personally saw coming at about the time this film was made.Thank God I was not sucked into this debacle. Live your life the way your income dictates or disaster awaits.

[–] aliensatemybuick 13 years ago

Oh, it was filled with foreshadowing, for sure. For example the real estate agent who was interviewed while driving, when she was going on about how people should borrow at any cost to get in to the real estate market because its "just gonna keep going up, up, up"; the dishonesty was palpable. She knew then EXACTLY what was coming...you could tell it in her voice and the look on her face.

[–] luckyiest 13 years ago

I cant beleive what has happened since this was made. They nailed it. I saw it again recently and the part at the end with the agent had been cut. I found that odd.

The credit bubble disabled the global ecomony. Who would have thought.

[–] TheManInOil 12 years ago

Yeah, it's kind of funny how every now and then some financial whiz will declare that they saw the crash coming as though that means they have special insight. It's pretty obvious that basically everyone knew it was coming and no one did anything about it.

"I'll book you. I'll book you on something. I'll find something in the book to book you on."

[–] mm-imdb-2 8 years ago

I know this is seriously old but...

Some people did try to do something, for years. They were continually told they were fear mongering, doing it for racist reasons (the head of either Fannie Mae or Freddie Mac was black at the time), on witch hunts, etc.

https://georgewbush-whitehouse.archives.gov/news/releases/2008/10/20081009-10.html

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Miguelito - Unix/Linux Sysadmin - http://www.miguelito.org