In Progress

The financial crisis is of epic size and labyrinthine dimensions, and has been presented to us as terrifying if we don’t do something to bail out Wall Street soon. I can’t say I am completely confident about my grasp of all the details, but there is one basic thing bothering me. A lot.

We know that the mortgage foreclosures led directly to the banks going under. This must mean that the banks made a bunch of loans to people who couldn’t afford to pay them back. But when people can’t pay loans back, the banks seize their homes and try to sell them. This means that the banks couldn’t sell the homes, but this does not mean that the original homeowners get their homes back. So where are these millions of people who couldn’t pay their loans? On the street. Where is the discussion of this mushrooming of homeless in America? Where are the urgent talks about how to help these people get back on their feet? Why is this article on tent cities the only article I’ve seen in the MSM about this grassroots crisis of epic proportions?

I just spent some time with a friend from CA who now lives in Norway, and mentioned this to him. It turns out, there’s plenty of information reaching Norway everyday about the frightening numbers of Americans who are now on the street. Which leads me to believe that we really need to sit our media down and have a serious talk about priorities. We’ll get to the politicians next.

Posted on September 30th, 2008 by DeepthiW
Filed under: Media, Politics, Uncategorized