The rising wave of foreclosures seems to have now firmly entered the American collective consciousness as demonstrated by this ABC News video. And this is just the tip of the proverbial iceberg. Maybe now people will learn to read that fine print on those loan docs. Or maybe not. I sure hope the government doesn't come in and do something like put a moratorium on foreclosure proceedings or ask everyone else to clean up the financial mess. Everyone was all gung-ho for market forces on the way up. Well, market forces cut both ways.
Tuesday, May 16, 2006
Foreclosures Video
The rising wave of foreclosures seems to have now firmly entered the American collective consciousness as demonstrated by this ABC News video. And this is just the tip of the proverbial iceberg. Maybe now people will learn to read that fine print on those loan docs. Or maybe not. I sure hope the government doesn't come in and do something like put a moratorium on foreclosure proceedings or ask everyone else to clean up the financial mess. Everyone was all gung-ho for market forces on the way up. Well, market forces cut both ways.
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1 comment:
great piece. i never watch any network news so it's good to see someone at least starting to cover this story.
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