Hooverville? No, Bushburg!

All the US Media chatter is about Bear Sterns and the troubles on Wall Street.
You have to go to the BBC to get coverage of what the financial shell game on Wall Street is doing to regular working Americans.


Calling this a "housing crisis" and blaming people trying to own a home for this mess is crap. This is a "financial fraud crisis" created by mortgage brokers and junk bond managers trying to make double-digit returns off of faulty paper.
We might as well say we have a "child teething crisis" and blame the toddlers for chewing on toys with lead in them instead of blaming the companies that manufacture and sell the poisonous toys.

NOTE: The video seems to have been pulled. But it was the BBC interviewing people in Los Angeles living in an impromptu homeless village. Every person they talked to had a story about their mortgage payments going up or having problems and losing their houses. The Feds seem happy to bail out Wall Street firms, but I doubt there will be a bail out for home owners who had the market manipulated beyond their control and out of their reach. It's easy to see who is included in Bush's "Ownership Society" and who isn't.