Full podcast episode: kzread.info/dash/bejne/rIGN2KmfZ6WnadI.html Lex Fridman podcast channel: kzread.info Guest bio: Matthew Cox is a former con man who served 13 years in federal prison for bank fraud, mortgage fraud, and identity theft. He is the author of many books, including his memoir Shark in the Housing Pool, and runs the KZread channel Inside True Crime.

Banks are only interested in money? Hello! It’s a bank, not a soup kitchen.

@Fabel555

6 ай бұрын

Providing a service? Monetary stability? Advancement of society

@OnlineEnglish-wl5rp

6 ай бұрын

Theyve become sociopathically detached from the rest of society in their pursuit of profit at any costs

I can’t imagine wanting to live life this way.

@mostly-harmless

6 ай бұрын

this... jfc

It’s not just real estate, it’s the car dealerships also.

Don’t know what Lex is grinning about, this guy doesn’t deserve accolade’s for his crimes.

@chasingsunsets87

6 ай бұрын

Also he is a con man. Embellishing stories is what they do. Very compelling but....

@xpicklepie

6 ай бұрын

The guy is a snake.

@tomcat8662

6 ай бұрын

Were you one of his victims?

@zachariahstovall1744

5 ай бұрын

he's playing the system just like all people do. congress is worse. just untouchable.

The pot calling the kettle black. Corruption generates corruption.

Lex. Get Klaus Schwab on. Grill him about his vision for humanity.

@julianshepherd2038

6 ай бұрын

He says a lot but none of it comes true.

@joadhenry

6 ай бұрын

I sure hope not! @@julianshepherd2038

Banks are corrupt? Wow pretty new news...

@moneyman...13

6 ай бұрын

are you being sarcastic or...😅

@shardovl586

6 ай бұрын

Now there is a major paradigm shift. I don't think my mind will be able to cope 😄

@shardovl586

6 ай бұрын

On a serious note, they build the foundations of our system on sand, and we so often pay for their mistakes. This is why we should be wary of digital currency. Hard currency is a powerful thing, let's hope we do not collectively fail to recognise this before it is too late. Digital currency should only be allowed, if it gives us autonomy, if we are paid directly without a middle man the power will be put back in our hands. Then they will have to give us more of a return on our money kept with them for their investments, which is something that the banks have forgotten as we are so often taken for granted.

@RobChapala

6 ай бұрын

After the bills trump signed, the banks are on a whole new dimension of corrupt. I dont understand how folks don't realize he is the biggest puppet for the banks.

@MartinVinny

6 ай бұрын

That wont tell you that in the news lmao

Maybe that's why the US and the average American have debt problems. People are getting loans when they shouldn't be. Look at it this way, the downside to getting rejected for a loan is that you have to wait a little longer getting the loan, or in other words, when you can afford it. The downside to getting that loan you can't afford is a vicious cycle of debt. There's nothing wrong with renting a home when you can't afford to buy it and there's nothing wrong with buying a used car if you can't afford a new one. Another affect this has is that loose lending drives up home prices. If there's fewer investors who can get a loan, that leads to lower demand, and lower demand leads to lower home prices. So big picture, stricter lending is more likely to help the average person than loose lending.

@ryanarborist

6 ай бұрын

The biggest thing I see is people in their 50s and 60s cashing in their home equity to buy RVs, motorcycles, boats. Those toys will rapidly decline in value and cost money to maintain. I couldn't imagine nearly owning an asset worth 300k or more and using that to buy a 40k fishing boat I use 10 times a year.

@OurNewestMember

6 ай бұрын

Bigger picture is that people are lectured not to splurge on coffee so they can afford a down payment to live closer to the job that doesn't really pay enough for that area while simultaneously you have bankers who shape the "rules" but still just can't seem to follow them. And one is rewarded with possible firing or spiraling expenses right after signing a lease or mortgage ... While the other is punished with status, special opportunities, and bonuses large enough to make even that large salary and expense account blush. It's not like that all the time, but the "gods are doing you a favor" framing painfully ignores the rampant disparity that makes it such that the bank can at times borrow for nothing and continue increasing its power (largely separate from whatever value it produces, the fairness of the "rules" system, its ethics, etc) and the person who works a normal job making normal things is told yet again, "you'll need to wait on this [job, mortgage] until we think it's time” (eg, via loan originations, interest rates, etc) The disparity wouldn't be so bad if it didn't include separate rules (including the consequences for breaking them!). And anyway they'll still make the bad loans if they can collect interest and keep the property (and sometimes get a free bailout loan from the govt so they can trade in the stock market while they wait for the house prices to recover!).

@OnlineEnglish-wl5rp

6 ай бұрын

It's almost as if 40 years of wage repression hasn't worked out well

@Earth11111

6 ай бұрын

It’s a debt based system hence the reason the gov is in debt it’s all fake. Only thing that can be managed is resources, money isn’t real the essentially lied to gain item aka resources….

"It's a big club"............

Thank goodness there are clips. Jesus a 6 hour podcast 😵😵😵

Better than a soap opera!! ❤

Massively inflationary. I fear the system has become dependent on bad credit

Amsterdam is in the Netherlands.

money is not corrupt it is how you apply it to your situation. nothing will be clean if you are not connected. don't fuck around if you are not paid up.

This guy was fascinating.

I've bought 3 properties on owner occupy loans. No one ever came and checked or ever followed up to make sure I was actually living in any of them

What if banks had a quota of 1 loan per person per 10 years? Things would sure change.

@Trizzer89

6 ай бұрын

I can guarantee that banks average that much easily. But if you mean each person should get a loan, most people already do and for the rest, they would just raise interest rates

Live by an outer score card, play fast and loose with the rules and you can end up in the same place as him.

Wow, Im really shocked.

The new subprime is called non QM or non Qualified lending. Also community banking has Noni

Matt Cox’s story is so deep, informative and compelling. One of the greatest true crime stories I’ve ever heard. And him being so open and transparent about his motive and response and what happened because of it is why so many are drawn to him. He is 100% authentic.

I recently made further purchases. Saving for a market slump is also a bad idea. There are different perspectives on recessions and depressions; we cannot always expect significant rewards; and taking risks is preferable to doing nothing. The bottom line is that by diversifying your portfolio and making sensible judgments, you will accomplish exceptional outcomes. In just 5 months, my portfolio's raw earnings increased by $608k.

@GaryWinstonBrown

6 ай бұрын

Despite my conviction in your direction, my recent stock purchases, and the fact that I am an AMC shareholder, I have not been able to amass anything. I had been in debt for far too long before the collapse. What are the steps required in investing?

@PennyBurdick318

6 ай бұрын

I completely agree, which is why I think it's important to delegate decision-making responsibility to an investment coach. Underperformance is essentially unimaginable given their specialized experience and education, as well as the fact that each of their skills is focused on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable events. Working with an investment coach for over two years, l've made over $1.5 million.

@PennyBurdick318

6 ай бұрын

Samuel Peter Descovich that's whom I work with

@MichealTanner141

6 ай бұрын

That is incredible! If he's this talented and has A-list skills, I'd like to speak with him. Even when I clone transactions using a MAM account, I continue to lose 20% of the time. Where can I locate his contact information?

@PennyBurdick318

6 ай бұрын

SAMUEL PETER DESCOVICH GOOGLE the name

Partner needs to go to Amsterdam for at least two weeks once a year. He's from Belgium. Um, okay?

incredible

Having worked on the lending side, banks will work just as hard to make deals work. The fraud he's talking about caused the 08 crash. Unfortunately it didn't regulate the realtor side of the equation which is what's going to cause this next house crash. Filled with inflated prices for values and commissions that are higher than a bank is paid to run their whole operation. Max 6% for realtors and 3% for banks. And yeah. Sub-prime or non-QM loans have been around since like 2011. Glad I got out, gonna be interesting for the future.

@OnlineEnglish-wl5rp

6 ай бұрын

No one forced the banks to lend to people they knew couldnt repay No one forced the banks to lobby the regulators to lower their regulations It's truly pathetic how an industry stuffed with libertarians and free marketeers can't face up to what they djd

@_nimrod92

6 ай бұрын

@@OnlineEnglish-wl5rpThe problem is banks don’t create money people do and they end up screwing their own customers by lending bad loans all in the name commissions aka greed is good.

@OnlineEnglish-wl5rp

6 ай бұрын

@@_nimrod92 It's certainly a bad incentive. Of course they also lend to other businesses, banks and governments

@_nimrod92

6 ай бұрын

@@OnlineEnglish-wl5rp the premise of this podcast, based on what I understood was that everyone has a price.

@OnlineEnglish-wl5rp

6 ай бұрын

@@_nimrod92 Indeed. And the free market ideology of the last 40 years says that's a perfectly good way of organising society Which is why everything's going wrong

You only need to look at this guy to know he's a liar.

@juicyjaydavila

6 ай бұрын

you’d be right there with all the other people he fooled.

Interview Nick Van Der Leek!

This fella is da smartest around!!!!❤

Its reckoned that a third of money moving around the world is stolen or drugs or human trafficking etc. can this happen without banks and bankers knowing?

deep

Sub-prime is now called non-prime

It's debt..not money...

Pot calling the kettle black.

Our governments owe our national debts to these people. Billions in interest payments seemingly forever. Racket.

stakeholder? 😂❤

Worlds going to hell in a hand basket and most are there to help bring it trying to cash in

Meanwhile people think deficit spending causes inflation

Da equity loans are da same kon job diff day

Banks are corporations Legally they must max profits. Thats not corruption, its a system

@justinava1675

6 ай бұрын

Youre very foolish. Do some research instead of spouting shit you hear from corporations lmao

@Nept3rius

6 ай бұрын

The Supreme Court has ruled that they must max profit for shareholders, a long time ago against Ford

👍🏾

This guy pot calling the kettle black!

The gamblers blues and the whole system is complicit start at the top and vote

Ill stick with my bitcoin ;)

Mind Begs the Question: - Islam forbids Usury/Interest Banking - Those who practice,impose Usury - To view Islam as Threat to Eliminate/Demonize,no?

this is why my money is in meme coins LOL 🐸

Just another heartless business

Banks are made of people just like him so don’t just blame bank when u are doing exactly the same

Da kon jobs are still chi town ❤

Imagine being so gullible that you watch this and actually think the bank is in the wrong. Of course the bank will take the money the fraud client wants versus a legal battle? You would to if someone rear ended you and they were going to write you a check? Here is context for you - if you own bank stock and then said bank begins a legal action, the stock price starts to go down for many reasons. Of course the bank will take the money to payoff the loan and then report the individual to the FBI

Study Bitcoin

Is this guys hair receding or not, I can't tell

@DoggiesForever

6 ай бұрын

Hair plugs

Dont buy anything from this guy, Lex! Haha, jk. Matt is cool now.

Dogecoin!

@antpoo

6 ай бұрын

USD aka ‘dodgecoin’

I broke the 69 likes 😔😔😔👉👈

This dude looks doggie say no more .. not sure why your giving him time

I'm interested in listening to this whole interview. But I find it fascinating that this guy blames the banks for being corrupt when he has gamed the system and put them in a lose lose situation. Classic.

Why did you put this guy on your platform lex he’s a liar

@arnoldvillarrealgonzalez5479

6 ай бұрын

Literally just look his name up. Freedom of information act.

Nooopooo shiiiiii*. When you know how a bank works unlike most people. You wouldn't tolerate most of the shi* you do. You gotta keep screen shots and reciepts.