Paul Kiel and Olga Pierce: The Obama administration has relied on a voluntary program with few sticks, that simply offers banks incentives to modify mortgages.
Marian Wang: Though foreclosures continue to speed through courts in some states, in recent months some judges have increasingly questioned banks bringing foreclosure cases in court, forcing them to prove their legal standing to foreclose.
David Love: The problem is that the United States is falling apart. It has become a Third World country. Record numbers of people are unemployed.
Robert Reich: Obama shouldn’t be fooled into thinking Bill Clinton was reelected in 1996 because he moved to the center. I was there. Clinton was reelected because by then the economy had come roaring back to life.
So far, here in the U.S., over 4 million homes have been foreclosed on since mid-2006. Because consumer spending drops drastically whenever housing values decline, the entire U.S. economy has been in a tail-spin throughout this period. Over 10 million jobs have been totally eliminated due to a dramatic drop in consumer sales and the resultant decline in production.
In Los Angeles Zipcode 90042, there are 385 families that may be evicted before the holidays. Of these, 211 live in bank-owned properties, 59 have homes that up for auction, and 115 have homes in foreclosure. We encourage you to sign Motion 07-2438-69, which was proposed by City Council President Eric Garcetti, seconded by Councilmember [...]