Friday, November 12, 2010

Light Reading for the Weekend on the Foreclosure Crisis

Posted By on Fri, Nov 12, 2010 at 4:35 PM

Matt Taibbi, who might be the most vital reporter working today not currently employed by the Tucson Weekly, spends a day in a Florida foreclosure court for Rolling Stone and what he witnesses is wildly depressing/infuriating:

When you meet people who are losing their homes in this foreclosure crisis, they almost all have the same look of deep shame and anguish. Nowhere else on the planet is it such a crime to be down on your luck, even if you were put there by some of the world's richest banks, which continue to rake in record profits purely because they got a big fat handout from the government. That's why one banker CEO after another keeps going on TV to explain that despite their own deceptive loans and fraudulent paperwork, the real problem is these deadbeat homeowners who won't pay their fucking bills. And that's why most people in this country are so ready to buy that explanation. Because in America, it's far more shameful to owe money than it is to steal it.

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