Dan Bluemel: At the request of a homeowner under foreclosure, occupiers have barricaded themselves inside another home. They hope to stave off eviction and force an amicable arrangement with the mortgage lender.
Kwazi Nkrumah: For years the banks, real estate agents and investors in real estate securities on Wall Street were making money hand-over-fist. They did all this while pretending to break from their previous established history of gross discrimination and red-lining against the disproportionately non-white borrowers whose limited financial resources forced them into “sub-prime” status in the first place.
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.
Robert Reich: John Boehner, the Republican House leader who will become Speaker if Democrats lose control of the House in the upcoming midterms, recently offered his solution to the current economic crisis: “Liquidate labor, liquidate stocks, liquidate the farmer, liquidate real estate. It will purge the rottenness out of the system. People will work harder, lead a more moral life.”
Sherwood Ross: Slumlords charge exorbitant rents. “Convenience” stores charge higher prices. Military recruiters have their pick of jobless youth desperate for work. And the for-profit, private prisons increase their head count (and income) as the judicial system hands off the young drug peddlers caught in the legal web. As the Kaiser Family Foundation reported, African-Americans fill 40 percent of the nation’s prison cells. Yet they make up just 13 percent of the nation’s population.
In the market for a prime piece of real estate? Governor Schwarzenegger has the deal for you! Facing a $21.3 Billion budget deficit in California, Schwarzenegger has offered to sell state-owned property to make up the difference. The crown jewel of the proposed fire sale is San Quentin State Prison, home to California’s death row [...]