Buzzflash
del.icio.us
Digg
Facebook
Mixx it!
Reddit
Share this article
-
The Student Loan Bailout
Cole Robertson: The credit crunch is hitting students hard, but is government aid going to shareholders and CEOs instead of the borrowers who need it most?
-
Ideas for a New Era
It's time for progressives to create coalitions and craft smart strategies that will push Obama and the new Congress to seize this moment.
-
Redoing Globalization
Sherle R. Schwenninger: The economic crisis was caused by world trade imbalances just as much as by domestic problems.
-
The Nation Guide to the Nation
VideoNation : Author and Nation senior editor Richard Lingeman unveils his new book--a virtual one-stop shop for liberals across America.
-
The Right Stimulus
VideoNation : Nation Editor Katrina vanden Heuvel discusses strategies for Obama to rebuild the public infrastructure and rethink the stimulus package so Wall Street isn't the only recipient.
-
Sean Penn Reflects on Chávez and Castro
Foreign Leaders & Political Figures
Brett Story & VideoNation : Actor-director Sean Penn debunks the many myths surrounding Cuba's Raúl Castro and Venezuela's Hugo Chávez.
For his story, Wright traveled to Atlanta, Georgia where he met George Mitchell and many others like him who had fallen victim to lending scams and looming foreclosures, a problem that has plagued millions around the country.
Mitchel, age 77, was approached by IndyMac lenders, among others, and was convinced to take out loans he didn't need or understand. He doesn't even remember signing the papers and now faces losing the home he and his wife bought forty years ago. Wright explains that home equity is one of the main sources of wealth for many middle-class African-Americans who used home ownership as a means of attaining the American dream.
Today, that wealth is being stolen from them through predative loans and a national rhetoric of "borrower responsibility." Watch Wright explain the depth of the problem and what it means for the future of the black middle class.
-Elizabeth Giegerich
Check out more great Nation videos on our YouTube channel.
- Get The Nation at home (and online!) for 75 cents a week!
- If you like this article, consider making a donation to The Nation.
RSS