Remember that nut job Ross Perot who years ago warned that we were headed for trouble if we ship all our jobs and technology offshore….wellllll, we’ve shipped our jobs and technology offshore and did not develop any alternative economy. The prosperity we enjoyed after the last decade was nothing but a hot air filled balloon ride….and the air is fast coming out of the balloon. You can’t make mortgage payments here in the US if we don’t make anything else in the US.
This article point out several very problematic aspects of foreclosure, key in my mind being the fact that Washington has been totally out of t0uch on the issue, writing blank checks to bankers and doing nothing to help ordinary Americans. Whenever anyone asks, “when are we getting out of the sinking foreclosure ship?” My answer is the same, “Several years after we first hear about major initiatives on un-employment. You can have all the programs you want, you can even reduce principle, but the bottom line is until real wages stop their decline, Americans cannot afford to live in their homes…and I don’t hear the first thing that gives me hope that anyone is doing anything to address the systemic unemployment in this state and in this country.