♪ ♪
>> John: HI THERE!
WELCOME TO THE SHOW!
STILL COMING TO YOU FROM THIS
BLANK VOID, THE WHITEST THING
ON TV THIS WEEK, ASIDE FROM
NANCY PELOSI DESPERATELY TRYING
TO PRETEND SHE KNOWS THE WORDS
TO "LIFT EVERY VOICE AND SING."
IT'S BEEN A BUSY WEEK.
JUNETEENTH WAS DECLARED
A FEDERAL HOLIDAY,
THE SUPREME COURT UPHELD
OBAMACARE FOR THE 400th TIME,
AND JOE BIDEN HAD A SUMMIT WITH
VLADIMIR PUTIN, PROMPTING THIS
UPLIFTING MOMENT:
>> Interpreter: DO YOU THINK AT
THE PRESENT STAGE, WE CAN TALK
ABOUT A NEW STAGE OF BILATERAL
RELATIONS?
>> Interpreter: THERE IS NO
HAPPINESS IN LIFE, THERE IS ONLY
A MIRAGE OF IT ON THE HORIZON.
>> John: WOW, THAT'S A DARK
ANSWER.
BUT I CAN'T SAY I EXPECTED
ANYTHING LESS FROM A MAN
WHOSE FACE SCREAMS,
"I ENJOYED THE "JOKER" FILM."
BECAUSE OF COURSE PUTIN DROPPED
BLEAK TOLSTOY QUOTES.
THAT'S VERY ON BRAND.
IT WOULD'VE BEEN MUCH MORE
SHOCKING IF HE'D SAID,
"FOLLOW YOUR BLISS," OR
"IT'S WINE O'CLOCK SOMEWHERE" OR
"NAVALNY, YOU HAVE THE FLOOR."
BUT INSTEAD OF THAT,
I WANT TO FOCUS ON JAPAN,
THE COUNTRY WHICH GAVE THE WORLD
KARAOKE, THE BEST WAY TO LEARN
WHICH OF YOUR COWORKERS IS
IRRATIONALLY OVERCONFIDENT
IN THEIR SINGING ABILITIES.
"LOVE ON TOP" BY BEYONCE?
THE FUCK DO YOU THINK YOU ARE?
TOKYO IS SET TO HOST
THE OLYMPICS IN JUST A MONTH.
THEY WERE ORIGINALLY SUPPOSED
TO TAKE PLACE LAST SUMMER, BUT
DIDN'T, DUE TO...
Y'KNOW.
AND YET, DESPITE THE FACT THAT
THE PANDEMIC IS STILL VERY MUCH
NOT OVER, THE GAMES SEEM TO BE
GOING AHEAD, AND NOT EVERYONE
IN JAPAN IS THRILLED.
>> TONIGHT, TOKYO OLYMPIC
ORGANIZERS SAY THE GAMES ARE
A GO, WITH MUSIC, MEDAL TRAYS,
AND UNIFORMS.
>> THE POSSIBILITY OF THESE
GAMES GOING ON IS 100%.
>> BUT POPULAR PROTESTS DEMAND
THEY BE STOPPED,
WITH SHIGARU OMI,
JAPAN'S VERISON OF
DR. ANTHONY FAUCI, SAYING
THE SITUATION IS NOT NORMAL.
A DAILY DEATH RATE HIGHER THAN
WHEN THE GAMES WERE DELAYED
LAST YEAR.
A SLOW VACCINE ROLLOUT.
NOW WITH HALF A MILLION SHOTS
EACH DAY, BUT THE TRUE TARGET
TWICE THAT.
>> John: YEAH, THAT'S NOT GOOD!
IN FACT, ONLY 6% OF THE JAPANESE
POPULATION IS CURRENTLY FULLY
VACCINATED.
AND WHILE I DON'T KNOW WHAT
THE TARGET PERCENTAGE SHOULD BE
TO SAFELY HOST THE OLYMPICS,
I'M PRETTY SURE THAT RIGHT NOW,
IT SHOULD BE HIGHER THAN
THE NUMBER OF ENTRIES IN THE
"FAST AND FURIOUS" FRANCHISE.
SO IT'S FRANKLY NO WONDER THAT
POLLS HAVE SHOWN MANY OF
THE JAPANESE PUBLIC OPPOSE
HOLDING THE GAMES THIS YEAR.
AND PERHAPS NO ONE REPRESENTS
THAT SENTIMENT BETTER THAN THIS
YOUTUBER:
>> ALTHOUGH HOSPITALS ARE CLOSE
TO COLLAPSE AND PEOPLE ARE
EXPOSED TO RISK, IOC SAID THEY
WILL, FOR SURE, HOLD THE
OLYMPICS!
IT'S CRAZY, ISN'T IT?
THE IOC SAID, "TOKYO OLYMPICS
WOULD GO AHEAD UNLESS STRUCK BY
ARMAGEDDON."
HMM.
WHAT A JOKE!
HA, HA, HA.
ALL YOU HAVE TO DO IS SIT DOWN
AND LISTEN TO AEROSMITH.
>> John: THAT IS EXCELLENT.
JUST TENS ACROSS THE BOARD.
INEXPLICABLE SIDE DIVE: TEN.
PLUGGING HIS EARS INSTEAD
OF HIS NOSE: TEN.
SHOUTING AN AEROSMITH LYRIC
BEFORE HIS BODY IS CONSUMED
BY A VERY SHALLOW LAGOON:
TEN AGAIN.
IF THE OLYMPICS SIMPLY HAVE TO
HAPPEN, I WANT THAT GUY TO BE
THE ENTIRE OPENING CEREMONY.
JUST HIM, ALONE IN A STADIUM,
SCREAMING AEROSMITH JOKES WHILE
OCCASIONALLY JUMPING INTO WATER,
FOR FOUR SOLID HOURS.
I'D WATCH EVERY SECOND OF THAT.
THE OLYMPICS GOING AHEAD IS
UNDENIABLY RISKY, BUT THE
ORGANIZERS SEEM TO BE
CONSIDERING A LOT OF DIFFERENT
FACTORS, WITH MANY BEING
FINANCIAL, ESPECIALLY AS JAPAN'S
ALREADY OFFICIALLY SPENT OVER
$15 BILLION ON THESE GAMES,
WITH GOVERNMENT AUDITS
SUGGESTING IT'S ACTUALLY
TWICE THAT MUCH.
AND THE TRUTH IS,
EVEN IF JAPAN WANTED TO CANCEL,
IT'S NOT QUITE THAT SIMPLE.
>> THE OLYMPIC HOST CITY
CONTRACT SIGNED BETWEEN TOKYO
AND THE IOC IN 2013 DOESN'T GIVE
TOKYO THE POWER TO SCRAP THE
GAMES.
ONLY THE IOC HOLDS THAT RIGHT.
>> John: YEAH, IT'S TRUE.
JAPAN DOESN'T TECHNICALLY HAVE
THE AUTHORITY TO CANCEL THE
GAMES, WHICH IS KIND OF WEIRD.
IT WOULD BE LIKE IF YOUR CHILD
GOT THE FLU AND YOU TRIED TO
RESCHEDULE THEIR BIRTHDAY PARTY,
ONLY TO GET OVERRULED BY THE
CLOWN YOU HIRED.
"HEY!
I DON'T CARE IF YOU'VE GOT
THE BUBONIC FUCKING PLAGUE,
FROM 2:00 PM TO 5:00, YOU'RE ON
BOZO'S CLOCK, BITCH."
TO PROMOTE SAFETY AT THE GAMES,
A TON OF PRECAUTIONS ARE BEING
UNVEILED, FROM BARRING
SPECTATORS FROM ABROAD,
TO ENCOURAGING PEOPLE TO KEEP A
TWO-METER DISTANCE AT ALL TIMES,
TO REQUESTING ATTENDEES SUPPORT
ATHLETES BY CLAPPING INSTEAD OF
SINGING OR CHANTING, WHICH IS A
SHAME BECAUSE -- AS ANYONE WILL
TELL YOU -- HALF THE FUN OF
WATCHING THE MEN'S TRAMPOLINE
FINAL IS THE RAUCOUS BONDING
WITH YOUR FELLOW TRAMP-HEADS.
AND WHILE SOME OF THOSE
PRECAUTIONS WILL HOPEFULLY DO
SOME GOOD, I WILL SAY, OTHERS
HAVE ABSOLUTELY NO CHANCE.
>> OLYMPIC ORGANIZERS TYPICALLY
GIVE AWAY TENS OF THOUSANDS OF
CONDOMS DURING THE GAMES FOR ALL
THE ATHLETES.
BUT THIS YEAR THERE IS STILL
GOING TO BE A CONDOM GIVEAWAY,
BUT THEY ARE TELLING THE
ATHLETES NOT TO USE THEM UNTIL
THEY GET HOME.
>> John: WELL, GOOD LUCK WITH
THAT!
HAVE FUN SELLING THAT MESSAGE
AT THE THE CONDOM BOOTH.
"HI THERE, 20-YEAR-OLD ADONIS
WITH THE PHYSICAL STAMINA OF
A YOUNG GAZELLE.
WELCOME TO WHAT IS, ESSENTIALLY,
A LIGHTLY MONITORED DORM FLOOR
THAT YOU'LL BE SHARING WITH SOME
OF THE MOST CHISELED BODIES ON
THE PLANET, ALL OF WHOM YOU'LL
LIKELY NEVER SEE AGAIN.
HERE ARE SOME FREE CONDOMS!
BUT PLEASE, MAKE SURE YOU THAT
YOU SAVE THEM UNTIL -- AH, I SEE
YOU'RE ALREADY FUCKING.
WELL, PLEASE, AT LEAST MOVE TO
THE SIDE, THERE IS A LINE BEHIND
YOU."
BUT I GUESS IT'S GOOD NEWS THAT
THEY'RE STILL HANDING THEM OUT,
ESPECIALLY FOR JAPAN'S TOP
CONDOM-MAKERS, WHO APPARENTLY
SAW THE OLYMPICS AS AN EXTREMELY
PRECIOUS OPPORTUNITY TO LET
THE WORLD KNOW ABOUT JAPAN'S
HIGH TECHNOLOGY PROPHYLACTICS.
ALTHOUGH, I WILL SAY,
I'M NOT CONVINCED THEY NEEDED
THE OLYMPICS TO DO THAT.
BECAUSE JAPANESE CONDOM ADS
DO A PRETTY GOOD JOB SELLING
THEIR PRODUCT.
TAKE A LOOK AT THIS.
>> THE CONDOM GORO FOUND WAS ONE
OF LEGEND.
WHAT'S HAPPENING?
HOLY MOLY!
GORO BECOMES A CONDOM BATTLER
AGAINST HIS WILL.
OMG!
A CONDOM HUNTER!
HA, HA!
DOUBLING UP GAVE ME ULTIMATE
ENDURANCE!
I CAN LAST 13 HOURS!!!
NO WAY!
WATCH OUT!
RUN, GORO!
LOOK, HIS CONDOM RIPPED!
WHOO-HOO!
DON'T DOUBLE-BAG CONDOMS!
THAT WAS CLOSE.
GORO BEGINS HIS JOURNEY TO
BECOME A CONDOM BATTLER,
COMPLETELY UNAWARE OF
THE CHALLENGES AHEAD.
>> John: YES!
THAT WAS PART OF AN ANIME
WEB SERIES PRODUCED BY JAPAN'S
LEADING CONDOM MANUFACTURER,
OKAMOTO, IN WHICH A
"CONDOM BATTLER" NAMED GORO
FINDS A MAGICAL RUBBER ON
THE GROUND, WHICH TURNS INTO
A SUIT OF PROTECTIVE ARMOR THAT
HE WEARS WHILE BATTLING A BUNCH
OF ANIME VILLAINS.
SO YOU KNOW, JUST YOUR AVERAGE
EDUCATIONAL,
CONTRACEPTION-THEMED, SCI-FI,
ACTION CARTOON AD FOR JAPANESE
COCK SOCKS ABOUT AN ANIME WAR IN
WHICH THE DRESS CODE APPEARS TO
BE "LATEX CASUAL," ALL OF WHICH
THEY CLAIM IS "TO BE CONTINUED"
-- OR, AS THE AD SAYS, "TO BE
CONDOM."
THAT'S SO MUCH MORE FUN THAN
SEX-ED IS HERE IN THE U.S.,
WHERE IT'S USUALLY, "HERE'S A
CONDOM, HERE'S A BANANA, LET'S
NEVER SPEAK OF THIS AGAIN."
BUT THE FACT IS, DESPITE
PROTESTS, IT SEEMS LIKE
THE OLYMPICS ARE GOING AHEAD.
AND ALL OF THIS IS A GOOD
REMINDER THAT HOSTING THE
OLYMPICS IS JUST NEVER
A GOOD IDEA FOR A CITY.
AND IT'S NOT LIKE JAPAN NEEDS
THE OLYMPICS TO BOOST TOURISM.
IT'S JAPAN!
IT'S ALREADY GOT MOUNT FUJI,
BAMBOO FORESTS, AND THE WORLD'S
WETTEST COMEDIAN.
WHO WOULDN'T WANT TO VISIT?
AND WHILE I TRULY HOPE FOR
EVERYONE'S BENEFIT THAT THIS
WORKS OUT, YOU CAN'T HELP
FEELING THAT THAT MAIN MOTIVATOR
IN THIS EVENT TAKING PLACE IS
MONEY.
SO WILL IT BE WORTH IT?
WELL, I GUESS ALL WE CAN REALLY
SAY AT THIS POINT IS -- TO QUOTE
MY NEW FAVORITE WEB SERIES --
THAT IS VERY MUCH
"TO BE CONDOM."
AND NOW, THIS.
♪ ♪
>> Announcer: AND NOW...
PLEASE ENJOY SOME BETTER NAMES
FOR THE DOGS FROM THIS YEAR'S
WESTMINSTER DOG SHOW.
♪ ♪
>> RAISE AND
>> RAISENETTE.
BEEF.
CAPTAIN JEAN-LUC PINARD.
DRAMA.
GOOD CARL.
BAD CARL.
CLAIMED HE WITNESSED A
HIGH-RANKING CIA OFFICER MEET
WITH LEE HARVEY OSWALD IN
SEPTEMBER OF 1963.
♪ ♪
SMOOTH CHRIS.
CRIME.: DEVOURER OF SOULS.
DENNIS.
AND JENNIFER ANISTON.
>> John: MOVING ON.
OUR MAIN STORY TONIGHT CONCERNS
HOME RENOVATIONS.
THEY'RE A BIG COMMITMENT THAT
ALWAYS TURN OUT GREAT, UNLESS,
THAT IS, YOU'RE ON
"TRADING SPACES," IN WHICH CASE,
THEY CAN TURN OUT LIKE THIS:
>> WE ARE IN THE ROOM.
OPEN YOUR EYES AND SEE YOUR NEW
FAMILY ROOM.
>> WOW.
>> I'M GONNA HAVE TO LEAVE THE
ROOM NOW.
>> YOU'RE THAT DISAPPOINTED?
>> WELL...
I'M GONNA HAVE TO LEAVE THE ROOM
NOW.
>> John: WOW.
THAT'S A SHAME.
KUDOS TO PAM THERE FOR BEING
GRACIOUS ENOUGH TO STEP OUT.
SHE'S SHOWING A LEVEL OF
RESTRAINT THAT THOSE DESIGNERS
VERY MUCH DID NOT.
BECAUSE WHY IS THAT FIREPLACE
OPAQUE?
WHO WOULD LOOK AT A SEXY
FLICKERING FIRE AND SAY,
"GREAT, BUT WHAT IF IT WAS
BLURRY?"
ALSO, THAT'S JUST TOO MANY
CANDLESTICKS.
THE WHOLE ROOM'S A WINDOWLESS
INFERNO WAITING TO HAPPEN.
IT'S DERANGED, IT'S UNSAFE, AND
FRANKLY, PAM DESERVED BETTER.
BUT SPECIFICALLY, WE'RE GOING
TO TALK ABOUT A WAY TO FINANCE
HOME IMPROVEMENTS CALLED PACE.
IT WAS ORIGINALLY DESIGNED TO
PROVIDE LOW-INCOME HOMEOWNERS
A WAY TO MAKE THEIR HOMES MORE
ENVIRONMENTALLY FRIENDLY.
AND TO EXPLAIN MORE,
HERE IS NETFLIX'S VERY OWN,
BARACK OBAMA:
>> WE'RE MAKING IT EASIER FOR
AMERICAN HOMEOWNERS TO TAKE
ADVANTAGE OF A NEW PROGRAM
CALLED PACE.
HERE'S HOW IT WORKS.
IF YOU MAKE THE SWITCH TO SOLAR,
YOU CAN NOW INSTALL SOLAR PANELS
OR RETROFIT YOUR HOME TO MAKE IT
MORE ENERGY EFFICIENT AT NO
UPFRONT COST, ALL BY PAYING FOR
THEM THROUGH THE FUTURE SAVINGS
ON YOUR ENERGY BILLS.
>> John: WELL, THAT SOUNDS LIKE
A GREAT PROGRAM FOR HOMEOWNERS!
BY THE WAY, IF YOU'RE UNDER THE
AGE OF 35, LET ME QUICKLY CLEAR
UP YOUR CONFUSION HERE:
A "HOMEOWNER" IS A PERSON WHO
OWNS THEIR HOME.
THEY DON'T RENT IT.
THE HOUSE BELONGS TO THEM.
LIKE YOUR PARENTS -- YOU KNOW
HOW YOUR PARENTS LIVE
IN A HOUSE, BUT THEY DON'T
HAVE A LANDLORD?
AND THEY DON'T HAVE TO SIGN
A LEASE, AND THEY DON'T PAY
A SECURITY DEPOSIT?
IT'S LIKE THAT.
IT'S THEIR HOUSE.
DON'T WORRY, THOUGH -- THAT'LL
NEVER BE YOU.
YOU'RE NOT ALLOWED TO DO THAT.
AMERICA DECIDED A FEW YEARS BACK
THAT IF YOU WERE BORN AFTER
1985, YOU DON'T GET TO OWN A
HOUSE.
YOU DO GET TO RENT APARTMENTS
FOR THE REST OF YOUR LIFE,
THOUGH, AS YOU GRADUALLY PAY OFF
THE STUDENT LOANS FROM YOUR
LIBERAL ARTS DEGREE -- THAT'S
THE THING YOU GET TO DO.
SO IF YOU'RE UNDER 35, YOU CAN
ACTUALLY SKIP THIS STORY.
DON'T EVEN WORRY ABOUT IT.
GO FIGHT WITH A 15-YEAR-OLD ON
TIKTOK ABOUT THE COOLEST WAY TO
PART YOUR HAIR.
YOUR LIFE IS SAD,
AND THAT'S OKAY.
PACE, THOUGH, STANDS FOR
"PROPERTY ASSESSED
CLEAN ENERGY,"
AND THE IDEA ORIGINATED IN
CALIFORNIA AS THE BRAINCHILD OF
THE FORMER CHIEF OF STAFF TO THE
MAYOR OF BERKELEY WHO DESCRIBES
HIMSELF AS AN "CAPITALIST
HIPPIE."
WHICH ABSOLUTELY TRACKS FOR
A GUY WHOSE NAME SOUNDS LIKE
HE'S ABOUT TO GENTRIFY JAZZ.
THERE ARE ACTUALLY TWO PACE
PROGRAMS: ONE FOR COMMERCIAL
PROPERTIES AND ONE FOR
RESIDENTIAL ONES.
AND WE'RE GOING TO FOCUS ON THE
SECOND ONE, WHERE THERE ARE SOME
HUGE PROBLEMS.
BECAUSE AFTER A TRIAL RUN IN
BERKELEY, THE RESIDENTIAL PACE
PROGRAM EXPLODED ACROSS
CALIFORNIA.
IN JUST THE SECOND HALF OF 2014,
LENDERS ISSUED $148 MILLION IN
PACE LOANS.
AND JUST A YEAR LATER, AS MORE
COUNTIES ACROSS THE STATE SIGNED
ON, THAT NUMBER QUADRUPLED TO
OVER HALF A BILLION DOLLARS.
RIGHT NOW, THESE THREE STATES
HAVE ACTIVE PACE PROGRAMS, BUT
PLANS TO EXPAND TO OTHER STATES,
INCLUDING NEW YORK AND OHIO,
ARE VERY MUCH IN DEVELOPMENT.
AND THAT SHOULD BE A CAUSE FOR
REAL CONCERN, BECAUSE WHEN PACE
LOANS GO WRONG, THEY CAN GO VERY
WRONG.
TAKE THIS CALIFORNIA COUPLE
WHO ENDED UP LOSING THEIR HOME.
AND THEY SAY THEIR PROBLEMS
STARTED WHEN A CONTRACTOR TURNED
UP AT THEIR HOUSE, PITCHING A
PACE-FUNDED IMPROVEMENT.
>> THEIR HOUSE BADLY NEEDED A
NEW ROOF, SO THEY SIGNED UP.
>> I THOUGHT IT WAS A WONDERFUL
THING, JUST REALLY A GODSEND.
>> ONE THING LED TO ANOTHER --
>> ONCE HE SAW THE ROOF,
HE SAYS, "WELL, LOOKS LIKE THIS
WALL..."
>> THEN IT WAS THE FLOOR.
>> WELL, I THINK THERE'S SOME
DAMAGE THERE.
>> THEN A FEW MONTHS LATER --
>> JUMPED OUR MORTGAGE PAYMENTS
$600 A MONTH.
>> OUR LIFE BEGAN TO UNRAVEL
AT THAT VERY MOMENT.
MY THOUGHT IS THAT WE'RE GOING
TO WIND UP IN A TENT.
>> John: LOOK, THERE ARE SOME
SITUATIONS WHERE THE IDEA OF
ENDING UP IN A TENT IS EXCITING
-- IF YOU'RE GOING CAMPING,
FOR EXAMPLE, OR SEEING
THE CIRCUS, OR WALKING INTO
THE FOREST TO FINALLY ABANDON
SOCIETY FOREVER AND LIVE AMONG
THE TREES, BUT IT SHOULDN'T
REALLY BE THE DESIRED OUTCOME
WHEN YOU'RE JUST TRYING TO FIX
YOUR ROOF.
UNFORTUNATELY, THE STORY OF PACE
IS A CAUTIONARY TALE ABOUT HOW
GOOD INTENTIONS, WHEN NOT PAIRED
WITH CAREFUL, SMART DESIGN,
CAN END IN DISASTER.
AND GIVEN THAT JOE BIDEN
PROMOTED THE PROGRAM AS
VICE-PRESIDENT, AND PROMISED
ON HIS CAMPAIGN WEBSITE TO
"EXPAND THE UTILIZATION OF
PACE," IT SEEMED THAT TONIGHT,
IT MIGHT BE A GOOD IDEA TO TAKE
A LOOK AT IT.
AND LET'S START WITH HOW PACE
WORKS.
BECAUSE BASICALLY, IT'S MONEY
DESIGNATED FOR REPAIRS OR
UPGRADES TO YOUR HOUSE.
THE AVERAGE PACE LOAN IS ABOUT
$25,000, AND REPAYMENT PERIODS
USUALLY STRETCH BETWEEN FIVE AND
25 YEARS.
BUT THE WAY YOU PAY IT BACK IS
BOTH UNUSUAL AND VERY
COMPLICATED -- EVEN THOUGH I'VE
ALREADY CALLED IT A "LOAN," IT'S
TECHNICALLY A LIEN ON YOUR HOUSE
-- A KIND OF DEBT DIRECTLY
ATTACHED TO YOUR PROPERTY,
AND WHICH, IN THIS INSTANCE,
YOU GRADUALLY PAY BACK THROUGH
YOUR PROPERTY TAXES.
AND ADS PROMOTING PACE HAVE
LIKED TO PUT THAT FACT FRONT AND
CENTER.
>> YOUR HOUSE IS ACTUALLY
BORROWING THE MONEY AND NOT YOU
PERSONALLY.
>> IT'S MORE LIKE THE HOUSE IS
GETTING THE FINANCING BECAUSE
PAYMENTS ARE MADE THROUGH AN
ASSESSMENT ON YOUR PROPERTY
TAXES.
>> IT'S AS IF YOUR HOUSE
IS BORROWING THE MONEY,
NOT YOU PERSONALLY.
>> John: OKAY, STOP.
BECAUSE THERE'S AN OBVIOUS
PROBLEM THERE.
EVEN IF YOUR HOUSE IS
TECHNICALLY BORROWING THE MONEY,
THAT MONEY COMES IN THE FORM OF
PROPERTY TAXES, AND YOU PAY FOR
THOSE.
YOUR HOUSE DOESN'T.
BECAUSE HOUSES CAN'T PAY TAXES.
BECAUSE HOUSES DON'T HAVE MONEY.
BECAUSE THEY'RE HOUSES.
IT'S THE EQUIVALENT OF BUYING
A NEW SWEATER AND TELLING THE
CASHIER, "OH, THE SALES TAX IS
ON THE SWEATER, SO THE SWEATER
WILL PAY THAT."
THAT'S NOT HOW TAXES OR, INDEED,
SWEATERS WORK.
THOSE ADS ARE FROM PACE
ADMINISTRATORS -- PRIVATE
COMPANIES HIRED BY CITIES TO
HANDLE THE LOGISTICS OF THE
PROGRAM, INCLUDING PROVIDING
FINANCING AND APPROVING LOANS.
SOME OF THE BIGGEST PLAYERS ARE
THESE COMPANIES, THE LARGEST OF
WHICH IS CALLED YGRENE.
WHICH IS JUST OBJECTIVELY
A STUPID NAME.
IT SOUNDS LIKE A CONTEMPLATIVE
JAZZ ALBUM FROM KERMIT THE FROG.
BUT THE REAL ORIGIN OF THE NAME
IS SOMEHOW EVEN STUPIDER,
AS A YGRENE REPRESENTATIVE
EXPLAINED DURING A LOCAL
"SPONSORED CONTENT" SEGMENT:
>> YGRENE, I LOVE THIS.
IT'S EASY TO REMEMBER BECAUSE
IT'S ACTUALLY "ENERGY" SPELLED
BACKWARDS.
>> EXACTLY.
MOST PEOPLE DON'T FIGURE THAT
OUT, BUT A COUPLE REMINDERS,
THEY USUALLY GET IT.
>> John: YEAH, OF COURSE THEY
GET IT, BECAUSE IT'S NOT A HARD
THING TO GET.
YGRENE BASICALLY PUT ABOUT AS
MUCH EFFORT INTO THEIR NAME AS
"TRADING SPACES" PUT INTO PAM'S
FAMILY ROOM.
THERE ARE A NUMBER OF FLAWS IN
HOW PACE PROGRAMS ARE DESIGNED,
AND HERE IS ONE OF THE FIRST KEY
ISSUES: WHILE COMPANIES LIKE
YGRENE MAY PROMOTE PACE THROUGH
ADS AND SPONCON SEGMENTS,
THE MAJORITY OF ACTUAL SALES TO
CUSTOMERS ARE DONE BY INDIVIDUAL
CONTRACTORS WHO'LL BE PERFORMING
THE RENOVATIONS.
AND THINK ABOUT WHAT THAT MEANS
FOR A MOMENT.
THE PEOPLE WITH THE
RESPONSIBILITY OF PITCHING
A VERY COMPLICATED FINANCIAL
PRODUCT -- A PSEUDO-LOAN THAT'S
TECHNICALLY A TAX LIEN -- ARE
CONTRACTORS, WHOSE TRAINING IS
NOT IN FINANCE.
NO JUDGMENT, IT'S JUST, PEOPLE
ARE TRAINED FOR DIFFERENT
THINGS.
IT'S THE SAME REASON YOU DON'T
ASK A BANKER TO RE-GROUT YOUR
BATHROOM TILE.
THEY'RE GOING TO MAKE A MESS.
IN PRACTICE, THE WAY IT USUALLY
WORKS IS, A CONTRACTOR WILL
APPROACH YOU -- MAYBE OUTSIDE
A SHOPPING CENTER, OR AT YOUR
CHURCH, OR EVEN KNOCKING
DIRECTLY ON YOUR DOOR.
AND THEY'LL OFFER TO SELL YOU,
LET'S SAY, SOLAR PANELS, OR A
NEW AIR CONDITIONER, WITH THE
PROMISE OF NO MONEY DOWN, AND
THAT -- CRUCIALLY -- SHOULD PAY
FOR THEMSELVES THROUGH HUGE
FUTURE SAVINGS.
THE THING IS, CONTRACTORS ARE
NOT ALWAYS COMPLETELY STRAIGHT
WITH CUSTOMERS ABOUT JUST HOW
MUCH THEIR PROPERTY TAXES COULD
GO UP.
>> THEY CAME TO MY HOUSE.
THEY SAID THAT I NEEDED THE
SOLAR SYSTEM, THAT IT WAS GONNA
DRAMATICALLY REDUCE MY LIGHT
BILLS.
WHEN MY PROPERTY TAXES CAME
BACK IN NOVEMBER, I HAD --
I WENT FROM $600 PROPERTY TAXES
TO ALMOST $10,000 PROPERTY
TAXES, WHICH I COULD NOT PAY.
>> John: $600 TO $10,000.
THAT IS NOT GOOD!
THE ONLY TIME THE VALUE OF
SOMETHING SHOULD CHANGE THAT
DRAMATICALLY IS IF ELON MUSK
SHITS OUT A TWEET ABOUT IT.
WE TRULY LIVE IN THE BEST
POSSIBLE SYSTEM!
BUT ALSO, IT SEEMS PRETTY
UNLIKELY SOLAR PANELS ARE GOING
TO CUT HER ELECTRICITY BILL BY
$10,000.
IN FACT, FOR ALL THE TALK ABOUT
HOW PACE IMPROVEMENTS WILL PAY
FOR THEMSELVES, THERE IS A
FUNDAMENTAL FLAW THERE, AS THIS
PROFESSOR WHO'S STUDIED THEM
WILL TELL YOU:
>> A FOUNDATIONAL FLAW OF THE
PACE PROGRAM IS THAT THERE IS
NO INDEPENDENT ENERGY AUDIT
REQUIRED OF A HOME BEFORE
HOME CONTRACTORS CAN START
SUGGESTING ALL SORTS OF
THINGS TO DO TO IT.
SOME OF THESE THINGS ARE MAYBE
PUT IN INCREDIBLY EXPENSIVE,
HIGH EFFICIENCY WINDOWS,
EVEN THOUGH THE EXISTING WINDOWS
ARE NOT THE MAIN SOURCE OF
ENERGY WASTE.
AND YOU WOULD DO MUCH BETTER
JUST CAULKING A FEW LEAKS.
>> John: EXACTLY.
THERE IS NO INDEPENDENT PARTY
REQUIRED TO ASSESS WHETHER YOUR
RENOVATIONS WOULD CUT CLOSE
TO ENOUGH ENERGY COSTS TO BE
WORTH IT.
WHICH REALLY SEEMS LIKE
SOMETHING YOU'D WANT VERIFIED
BY A THIRD PARTY.
IT'S THE SAME REASON WE HAVE
INDEPENDENT HEALTH INSPECTORS
PUT A LETTER GRADE OUTSIDE
A RESTAURANT, AS OPPOSED TO
LETTING THE OWNER PUT UP HIS OWN
SIGN THAT SAYS, "TRUST ME,
IT'S CLEAN."
AND THAT ACTUALLY BRINGS US TO
THE NEXT KEY QUIRK OF THE PACE
PROGRAM.
BECAUSE IF THOSE ENERGY SAVINGS
DON'T COVER THE ADDITIONAL TAXES
YOU INCUR, YOU COULD BE IN BIG
TROUBLE.
REMEMBER THOSE ADS ABOUT HOW
"YOUR HOUSE PAYS FOR
THE FINANCING, NOT YOU?"
WHAT THAT MEANS IS,
YOUR HOUSE IS NOW THE COLLATERAL
FOR THE DEBT.
SO IF THINGS GO WRONG,
YOU COULD WELL LOSE YOUR HOME,
AND, YOU KNOW, END UP IN A TENT.
AND THERE ARE FAR FEWER
PROTECTIONS TO PREVENT THAT THAN
YOU MIGHT THINK.
BECAUSE THIS IS A TAX LIEN
RATHER THAN A LOAN,
THE FINANCING ISN'T SUBJECT TO
THE SAME CONSUMER PROTECTIONS
THAT YOU'D GET WITH A STANDARD
HOME LOAN.
SO FOR INSTANCE, IN FLORIDA,
THE STATE DOESN'T REQUIRE
PACE PROVIDERS TO EXPLAIN
THE COSTS OF IMPROVEMENTS,
CHECK IF THE PEOPLE WHO SIGN UP
CAN ACTUALLY AFFORD TO PAY BACK
THE MONEY, OR IF THEY EVEN
UNDERSTAND THE TERMS.
AND PACE ADMINISTRATORS WILL
INSIST THEY DO ALL THOSE THINGS
ANYWAY -- THAT THEY'RE DILIGENT
ABOUT VETTING HOMEOWNERS,
THE PROJECTS THEY TAKE ON,
AND THEIR ABILITY TO REPAY.
BUT THERE ARE SO MANY EXAMPLES
OF FAILURES TO DO THAT.
THANKS TO PACE, ONE MISSOURI
HOMEOWNER WOUND UP WITH
$25,000 OF DEBT ON THE HOME THAT
WAS APPRAISED BY THE CITY AT THE
TIME ADDRESSED $8400.
AND IF AT THIS POINT YOU'RE
WONDERING WHY ON EARTH PEOPLE
SIGN UP FOR THESE LOANS, IT'S
BECAUSE THEY'RE OFTEN PRESENTED
AS A GOVERNMENT PROGRAM -- ONE
THAT, REMEMBER, PRESIDENT OBAMA
PROMOTED -- WHICH MIGHT INSTILL
A FALSE SENSE OF SECURITY.
>> THEY DID MENTION A GOVERNMENT
PROGRAM AND THAT'S WHY YOU HEAR
GOVERNMENT, YOU THINK THIS IS AN
AWESOME DEAL AND YOU DON'T
EXPECT WHAT HAPPENED TO HAPPEN.
>> IN A HIDDEN CAMERA
INVESTIGATION LAST MAY,
WE CAUGHT CONTRACTORS TOUTING
CLAIMS OF GOVERNMENT PROGRAMS.
>> SO BECAUSE OF WHAT YOU HAVE
GOING ON, THIS GOVERNMENT
PROGRAM COULD ACTUALLY
HELP YOU.
>> OH, THAT IS A GOVERNMENT
PROGRAM.
>> YEAH.
>> WHEN WE SHOWED UP,
THE SALES PITCH WAS OVER.
AND THEN THEY HAD SOME
PARTING WORDS.
>> YOU SUCK, BY THE WAY.
>> John: LOOK: I'D SAY I FELT
BAD FOR THAT REPORTER, WHO WAS
CLEARLY JUST DOING HIS JOB AND
WAS THEN MET WITH A MAN BERATING
HIM FROM HIS COMPACT TOYOTA.
BUT THINK OF IT THIS WAY --
AT LEAST NOW HE KNOWS WHAT IT'S
LIKE TO BE A WOMAN ON THE STREET
WHO DOESN'T SMILE BACK.
AND IF THIS IS ALL STARTING
TO FEEL POTENTIALLY PREDATORY,
THAT'S BECAUSE IT OFTEN IS.
AND IF YOU KNOW ANYTHING ABOUT
THE HISTORY OF PREDATORY
LENDING, IT WON'T REMOTELY
SURPRISE YOU TO LEARN THAT
AN ANALYSIS OF ONE OF THE
LARGEST MARKETS FOR PACE IN
FLORIDA FOUND THAT MANY OF THOSE
WITH THE HIGHEST DEBT BURDENS
UNDER PACE FINANCING WERE FOUND
TO BE IN MAJORITY MINORITY
ZONES.
AND IT DOESN'T STOP THERE,
BECAUSE CONTRACTORS HAVE ALSO
BEEN ACCUSED OF TARGETING
NEIGHBORHOODS OF NON-ENGLISH
SPEAKERS, SENIOR CITIZENS, AND
EVEN THOSE WITH INTELLECTUAL
DISABILITIES, LIKE THIS MAN, WHO
-- AS HIS LAWYER POINTS OUT --
ABSOLUTELY DID NOT UNDERSTAND
WHAT HE WAS SIGNING UP FOR.
>> IT'S VERY APPARENT FROM
SPEAKING WITH HIM THAT HE
DOESN'T UNDERSTAND THESE LOANS.
HE DOESN'T UNDERSTAND THE
CONTRACTS THAT HE ENTERED INTO.
HE HAD KITCHEN REMODELING DONE
AND HE DOESN'T EVEN COOK.
HE GETS MEALS ON WHEELS.
HE DOESN'T USE HIS KITCHEN.
HE'S A NICE GUY, HE WANTS
SOMEONE TO TALK TO.
SO HE INVITES THEM IN, HE TALKS
TO THEM, AND THEY TALK HIM INTO
"HEY, YOU NEED THESE WINDOWS
REPLACED.
YOU NEED YOUR KITCHEN
REMODELED."
>> John: LOOK, I GET THAT YOU'RE
ON HIS SIDE, AND I DO APPRECIATE
THAT, BUT YOUR CLIENT IS SITTING
RIGHT THERE!
SOMEONE SHOULD, AT THE VERY
LEAST, HAVE THOUGHT TO MOVE
THAT INTERVIEW OUTSIDE.
THE NUMBER ONE RULE OF TALKING
ABOUT SOMEONE BEHIND THEIR BACK
IS THAT THEIR BACK SHOULD NOT BE
ANYWHERE IN YOUR IMMEDIATE
VICINITY.
AND COMPANIES ROUTINELY DEFEND
THEMSELVES BY ARGUING THEY
DISCLOSE EVERYTHING CLEARLY,
AND THAT PEOPLE SIMPLY SHOULDN'T
SIGN THESE CONTRACTS IF THEY
CAN'T UNDERSTAND THEM.
BUT THAT'S A LITTLE DISINGENUOUS
WHEN THEIR WHOLE OPERATION SO
OFTEN EMPHASIZES SPEED OVER
SLOW, DELIBERATIVE
CONSIDERATION.
THESE COMPANIES' WEBSITES
BRAG ABOUT THEIR "SUPER FAST
APPROVALS," OR THEIR "SPEEDY
APPROVAL PROCESS," OR MAKE
CLAIMS LIKE, "GET APPROVED FOR
YGRENE FINANCING IN 30 MINUTES
OR LESS."
AND THE CLEAR IMPLICATION THERE
IS THAT YOU CAN BASICALLY GET
YOUR MONEY LIKE THAT!
OH, SHIT.
>> OH, FOR FUCK'S SAKE.
>> John: I'M SORRY, GEORGE.
I SNAPPED MY FINGERS WITHOUT
THINKING.
>> YOU KNOW I'M BUSY, RIGHT?
>> John I DO.
ACTUALLY, WHAT ARE YOU UP TO
RIGHT NOW?
ANYTHING FUN?
FAIR ENOUGH.
THE POINT IS, THOUGH, A COMMON
SALES TACTIC HERE IS FAST
APPROVALS.
CONTRACTORS OFTEN GO
DOOR-TO-DOOR WITH A TABLET,
ENCOURAGING PEOPLE TO SIGN
ELECTRONICALLY.
AND IN ONE COMPANY'S VIDEO,
A CONTRACTOR TALKS OPENLY ABOUT
JUST HOW FAST THE E-SIGN PROCESS
IS.
>> I JUST TAKE THE PEOPLE TO
THE ADOPT AND SIGN PORTION OF
IT, HAVE THEM PICK A SIGNATURE,
AND SIGN ALL THE REMAINING
PAGES, AND WE'RE DONE IN JUST
A MATTER OF MINUTES.
I WAS IN A HOUSE IN RIALTO.
THE PATIO DOOR WAS OPEN BEHIND
ME, THE RAIN WAS POURING,
THE TV WAS ON LOUD, THREE DOGS
BARKING, FOUR KIDS YELLING, AND
WE GOT THROUGH IT.
AND I FELL IN LOVE WITH THE
ESIGN PROGRAM AFTER THAT.
>> John: OH, I BET YOU DID!
ALTHOUGH, I'M NOT SURE
"LOOK HOW EASY IT WAS TO GET
THIS STRESSED-OUT HOMEOWNER TO
SIGN A LEGALLY BINDING DOCUMENT"
IS QUITE THE FLEX HE THINKS
IT IS.
THERE ARE, INDEED, SEVERAL
THINGS YOU CAN DO IN A MATTER OF
MINUTES WHILE FOUR CHILDREN
ARE SCREAMING AND THREE DOGS
ARE BARKING IN THE BACKGROUND.
YOU CAN SCHEDULE A GROCERY
DELIVERY, OR HAVE A TENSE
EYE CONTACT-ONLY ARGUMENT WITH
YOUR SPOUSE, OR LIKE AN
INSTAGRAM POST FROM
AN EX ANNOUNCING THEY'RE
"MAKING MUSIC NOW," THEN FIND
THAT EX'S MUSIC ON SOUNDCLOUD,
THEN SEND THAT EX'S NEW SONGS
TO YOUR GROUP THREAD, THEN WATCH
AS THEY MERCILESSLY TEAR TEVIS'S
AMATEUR EDM TRACKS A NEW
ASSHOLE.
ALL OF THAT CAN BE ACCOMPLISHED
UNDER THOSE CHAOTIC
CIRCUMSTANCES, BUT SIGNING UP
FOR A MASSIVE LIEN ON YOUR HOUSE
FROM A GUY WHO'S IN LOVE WITH
HIS iPAD PROBABLY SHOULDN'T BE.
BECAUSE THIS ISN'T LIKE AGREEING
TO THE TERMS AND CONDITIONS OF
AN iTUNES UPDATE.
THIS IS LIKE SITTING ACROSS THE
TABLE FROM A BANKER, POTENTIALLY
SIGNING YOUR HOUSE AWAY.
THE PROBLEMS IS THE INCENTIVES
JUST AREN'T REALLY THERE FOR
CONTRACTORS TO MAKE SURE THAT
THE PEOPLE THEY'RE SELLING TO
CAN ACTUALLY PAY BACK THE LOANS
THEY'RE TAKING ON.
ESPECIALLY BECAUSE, IN THE FINAL
QUIRK OF THIS PROGRAM THAT MAKES
IT SO DANGEROUS, THE PACE LOAN
ISN'T JUST A LIEN ON YOUR HOUSE
-- IT'S WHAT'S CALLED A
"PRIORITY LIEN," MEANING THAT,
IN THE EVENT OF A FORECLOSURE,
PACE LENDERS GET TO COLLECT
THEIR MONEY FIRST, AHEAD OF THE
MORTGAGE LENDER OR ANYONE ELSE.
THE FACT THAT THAT'S THE CASE
ENABLES COMPANIES LIKE YGRENE
TO BUNDLE THAT DEBT TOGETHER AND
SELL IT ON WALL STREET AS A VERY
SAFE INVESTMENT.
BECAUSE FOR THOSE INVESTORS,
IT'S A NEAR-GUARANTEED RETURN.
BUT FOR HOMEOWNERS THEMSELVES,
IT CAN SPELL COMPLETE DISASTER.
FOR ONE THING, IT CAN MAKE IT
MUCH HARDER TO SELL YOUR HOUSE.
BECAUSE NO ONE WANTS TO BUY A
HOUSE WITH A LIEN ON IT FOR
TENS OF THOUSANDS OF DOLLARS,
FOR RENOVATIONS THAT MIGHT'VE
BEEN DONE A DECADE AGO.
IF YOU'RE HOUSE HUNTING AND YOU
FIND THAT OUT, IT'S LIKE HEARING
THE REALTOR SAY, "HERE'S THE
GARAGE-SLASH-METH LAB," OR,
"HERE'S THE BASEMENT WHERE THE
KIDNAPPED KIDS WERE CHAINED UP,"
OR "HERE ARE THE POPCORN
CEILINGS."
IT IMMEDIATELY KILLS ANY APPEAL
THE HOUSE EVER HELD.
AND IT'S NOT JUST HOMEOWNERS
RAISING THE ALARM HERE.
THAT PRIORITY LIEN PLACEMENT IS
THE PRIMARY REASON WHY, IN 2010,
FANNIE MAE AND FREDDIE MAC
STOPPED BACKING MORTGAGES ON
HOMES THAT HAD PACE LOANS.
AND THIS IS YET ANOTHER
A POTENTIALLY DEVASTATING
CONSEQUENCE TO A SYSTEM WITH
NO REAL ACCOUNTABILITY BAKED IN.
REMEMBER THAT CALIFORNIA COUPLE?
HERE IS THEIR CONTRACTOR
EXPLAINING WHY NONE OF WHAT
HAPPENED TO THEM IS HIS FAULT.
>> DID YOU AS A CONTRACTOR,
THOUGH, EVER CONFIRM IF THEY HAD
THE ABILITY TO PAY?
BECAUSE THIS IS AN OLDER COUPLE
ON FIXED INCOME, THEY SAY
THERE'S NO WAY THEY COULD HAVE
PAID FOR THE WORK THAT YOU TOOK
ON IN THEIR HOUSE.
>> BUT -- I DON'T QUALIFY
PEOPLE.
PACE QUALIFIES PEOPLE.
>> WELL, THERE'S A LOT OF
PASSING THE BUCK HERE BECAUSE --
>> NO, THERE'S NO PASSING
THE BUCK, MISS.
WHAT YOU SHOULD DO IS TALK TO
YGRENE, WHO THEY HAD THE
CONTRACT WITH.
>> John: WELL, HOLD ON THERE.
BECAUSE IT'S PRETTY BOLD TO
CLAIM "THERE'S NO PASSING THE
BUCK," ONLY TO IMMEDIATELY THEN
PASS THE BUCK.
IT HEARKENS BACK TO THAT FAMOUS
SIGN IN HARRY TRUMAN'S OFFICE,
"THE BUCK STOPS HERE,
WITH LARRY DOWN THE HALL,
HE'S THE ONE WHO HANDLES
ALL THE PAPERWORK, YOU SHOULD
REALLY GO TALK TO HIM."
THE POINT IS, EVERY PLAYER HERE
IS PERPETUATING A CYCLE OF ZERO
ACCOUNTABILITY.
THE PACE ADMINISTRATORS BLAME
THE CONTRACTORS.
THE CONTRACTORS BLAME THE
ADMINISTRATORS.
AND SOMETIMES, THE FINGER OF
BLAME GETS POINTED DIRECTLY
AT THE CUSTOMERS THEMSELVES.
BECAUSE HERE'S WHERE, LEGALLY,
I HAVE TO TELL YOU THAT YGRENE
-- WHICH IS ENERGY BACKWARDS,
BY THE WAY, IT'S VERY CLEVER --
INSISTS THAT THEY HAVE RIGOROUS
DISCLOSURE PRACTICES, EXERCISE
ROBUST OVERSIGHT OVER
CONTRACTORS, AND HAVE NEVER
PERSONALLY FORECLOSED ON A HOME.
THEY ALSO INSIST THAT THE COUPLE
RECEIVED
ALL THE APPROPRIATE FINANCING
DOCUMENTS, AND THAT THEY, AND
NOT YGRENE, SELECTED THE
CONTRACTORS TO WORK ON THEIR
HOUSE.
SORT OF IMPLYING THAT IT WAS ALL
THEIR FAULT.
WHICH IS PRETTY HARD TO TAKE,
GIVEN THAT YGRENE SELECTS WHICH
CONTRACTORS IT ALLOWS INTO ITS
PROGRAM.
IF YOUR SEAFOOD RESTAURANT SELLS
TAINTED LOBSTERS, THEY SHOULDN'T
GET TO SHRUG IT OFF BY SAYING,
"YOU PICKED THE ONE YOU WANTED
OUT OF THE TANK," WHEN THEY PUT
THOSE LOBSTERS IN THERE IN THE
FUCKING FIRST PLACE!
AND COMPANIES ARE ALWAYS GOING
TO INSIST THAT THIS IS JUST A
PROBLEM OF A FEW BAD APPLE
CONTRACTORS, AND THEY'RE ALWAYS
IMPROVING THEIR PROCESSES.
BUT I WOULD ARGUE THE FLAWS OF
THIS PROGRAM ARE BAKED INTO HOW
IT OPERATES.
AND NO ONE KNOWS THIS BETTER
THAN TAX COLLECTORS, BECAUSE
THEY'RE THE ONES WHO END UP
HAVING TO COLLECT ON THE DEBTS
HOMEOWNERS RACK UP, AND ARE
CAN BE THE ONES HAVING TO DO THE
FORECLOSURES.
JUST LISTEN TO THIS MISSOURI TAX
COLLECTOR BEGGING HIS COUNTY TO
GET RID OF ITS PACE PROGRAM JUST
LAST MONTH.
>> I CAN TELL YOU WHAT THE FACTS
ARE GOING TO BE: THE MORE OF
THESE THAT YOU HAVE, SOME
PERCENTAGE OF PEOPLE WILL LOSE
THEIR HOUSES.
AND YOU CAN MAKE THE CONSUMER
PROTECTIONS BETTER, AND YOU
CAN MAKE THEM A LITTLE MORE
RIGOROUS, BUT AT THE END OF THE
DAY, SOME PEOPLE WILL HAVE THEIR
HOMES TAKEN FROM THEM.
I THINK THE BOTTOM LINE IS THAT
THERE IS NO CIRCUMSTANCE, IN MY
OPINION, IN WHICH IT MAKES SENSE
TO OFFER THE COUNTY'S POWER TO
TAKE YOUR HOUSE IN RETURN FOR
GETTING YOU MONEY TO BUY A NEW
AIR CONDITIONER OR SOLAR PANEL
OR WHATEVER IT MAY BE.
>> John: EXACTLY.
NOBODY IN THIS COUNTRY SHOULD BE
LOSING THEIR HOME BECAUSE OF AN
AIR CONDITIONER!
THEY SHOULD BE LOSING THEIR
HOME BECAUSE OF UNEXPECTED
MEDICAL BILLS -- YOU KNOW,
LIKE AN AMERICAN!
AND ALL OF THIS MAY BE
COMING TO A HEAD IF FORECLOSURES
BEGIN TO RISE IN THE WAKE
OF THE PANDEMIC.
IN FACT, ONE FLORIDA TAX
COLLECTOR HAS EVEN WARNED
THAT PACE WILL BECOME FLORIDA'S
NEXT MORTGAGE CRISIS IF WE'RE
NOT CAREFUL.
WHICH IS CHILLING.
BECAUSE THE CONDITIONS ARE PRIME
FOR A DISASTER, BUT IT SEEMS
LIKE WE'RE NOT DOING ANYTHING
TO STOP IT.
IT'S LIKE HOW WE INEXPLICABLY
LET HARRISON FORD CONTINUE TO
FLY PLANES.
WE ALL KNOW WHAT'S GOING TO
HAPPEN!
SOMEBODY DO SOMETHING BEFORE
IT'S TOO LATE!
SO WHAT CAN WE DO?
WELL, WE COULD TRY REFORMS LIKE
STOPPING DOOR-TO-DOOR SALES.
BUT THE TRUTH IS, AS THAT GUY
SAID, PEOPLE COULD STILL END UP
LOSING THEIR HOMES.
THE TOUGHER QUESTION MIGHT BE
WHETHER OR NOT REFORM IS EVEN
WORTH IT.
BECAUSE FOR THE RECORD, PACE
ISN'T THE ONLY WAY LOW-INCOME
HOMEOWNERS CAN GET HELP TO
FINANCE GREEN ENERGY UPGRADES.
NATIONALLY, THERE'S
THE LOW INCOME HOME ENERGY
ASSISTANCE PROGRAM, AND
THE FEDERAL WEATHERIZATION
ASSISTANCE PROGRAM, OR WAP, AS
IT'S KNOWN TO ABSOLUTELY NO ONE.
AND IN FLORIDA AND CALIFORNIA
SPECIFICALLY, THERE ARE SEVERAL
PROGRAMS THAT CAN ASSIST
LOW INCOME HOUSEHOLDS
IN ENERGY FUNDING.
THE POINT IS, IF YOU, YOUR
PARENTS, OR ANYONE YOU KNOW IS
CONSIDERING A PACE LOAN,
YOU SHOULD DEFINITELY SEE IF
YOU OR THEY ARE ELIGIBLE FOR
PROGRAMS LIKE THESE FIRST.
AND IF YOU LIVE IN A COUNTY
THAT'S THINKING OF IMPLEMENTING
A PACE PROGRAM WITH FOR PROFIT
ADMINISTRATORS, DO WHATEVER YOU
CAN TO STOP IT.
BECAUSE THE FACT IS, THIS
BUSINESS MODEL IS FUNDAMENTALLY
FLAWED.
AND I'M NOT SAYING THAT
AFFORDABLE CLEAN ENERGY ISN'T
SOMETHING WE SHOULD BE INVESTING
IN.
IT ABSOLUTELY IS.
BUT WE SHOULDN'T BE PUTTING
VULNERABLE PEOPLE IN A POSITION
WHERE THEY'RE RISKING THEIR
HOMES.
SADLY, THIS IS YET ANOTHER
EXAMPLE WHERE A WELL-MEANING
PUBLIC PROGRAM HAS BEEN
CORRUPTED BY THE PRESENCE OF
PRIVATE COMPANIES.
AND IF THEY COME TO WHERE YOU
LIVE, YOU WOULD BE WELL ADVISED
TO TELL THEM TO KCUF FFO.
IT'S ACTUALLY "FUCK OFF,"
BACKWARDS.
MOST PEOPLE DON'T FIGURE THAT
OUT, BUT AFTER A COUPLE OF
REMINDERS, THEY USUALLY GET IT.
AND NOW, THIS.
♪ ♪
>> Announcer: AND NOW...
THE WINNER OF BEST IN SHOW AT
THE WESTMINSTER DOG SHOW BREAKS
NEWSCASTER'S BRAINS.
>> SO I THOUGHT IT WAS -- I
MEAN, HE IS PRETTY, OBVIOUSLY.
[LAUGHS]
>> IT'S JUST HAIR.
>> IT LOOKS LIKE A HEAD OF HAIR.
LIKE, AMBER, I PICTURE -- I
PICTURE YOURS OR MY HAIR JUST
WALKING ON THE GROUND WITH NO
LEGS.
LIKE --
>> SOMEONE'S WIG IS CONTROLLING
THEIR BRAIN.
>> WALKING ACROSS THE GROUND.
>> AN ALIEN.
>> THIS IS GORGEOUS.
IT'S JUST SO WEIRD.
>> IS SUPER ODD LOOKING.
GOOD FOR HIM.
A SPEAKER THAT PERSON PROBABLY
SPENT MORE TIME ON THAT
DOG'S HAIR --
>> AND MONEY.
>> THEN THE THREE OF US COMBINED
AND WE ARE ON TV EVERY DAY.
[LAUGHS]
>> I'M NOT INTO THAT.
>> IT'S JUST NOT CUTE.
>> IT IS SO UGLY.
>> THAT IS SUCH AN UGLY DOG.
NO OFFENSE TO ANYBODY.
>> YOU CAN'T SAY THAT IS AN UGLY
DOG AND THEN SAY "NO OFFENSE."
YOU HAVE OFFENDED.
>> I DON'T MEAN IT TO BE
OFFENSIVE.
>> IT LOOKS LIKE A WALKING WIG.
>> IT LOOKS LIKE BECAUSE IN IT.
>> A VERY UNIQUE LOOK THAT
WASABI HAS.
>> WHAT DO YOU MEAN UNIQUE LOOK?
>> FURRY.
>> YOU MEAN THOMAS MOST FACE?
-- SMOOSHED FACE?
I WAS ASKING A SERIOUS QUESTION.
YES.
>> John: THAT WAS OUR SHOW.
THANK YOU SO MUCH FOR WATCHING.
WE WILL SEE YOU NEXT WEEK.
GOOD NIGHT.
♪ ♪