Friday, December 18, 2009

Bill Moyers covers bank attitudes on helping homeowners

Bill Moyers Journal on PBS tonight (Dec. 18) presented “community organizer” Steven Meachem of “City Life/Vita Urbana” (link), who helps organize or motivate foreclosure eviction blockades.

Meachem maintains that banks are refusing to negotiate with homeowners who could pay what a fair mortgage on what the home is really worth and what a bank could get for it, because the banks are addicted to a notion called “moral hazard.” He says that dealing with homeowners is really in their own best interest. He has helped organize demonstrations with police tapes reading “white collar crime scene”.

The link is here.

No comments: