To the Point
The Housing Crisis Is Eating America's Economy
Housing foreclosures are still on the rise, often because of cheap mortgages that are now worth more than the properties they were based on. Greedy banks are partly to blame, but so are home-buyers looking for increased values--guaranteed. Also, after eight days Turkey pulls out of Iraq, and the legacy of a murder victim in the Brazilian jungle.
By Warren Olney • • 1h 0m ListenHousing foreclosures are still on the rise, often because of cheap mortgages that are now worth more than the properties they were based on. Greedy banks are partly to blame, but so are home-buyers looking for increased values--guaranteed. We talk about consequences for the economy and possible fixes. Also, after eight days Turkey pulls out of Iraq, and the 73-year-old motorcycle-riding nun who got on a death list in central Brazil.
In this episode
3 storiesTurkish Troops Withdraw from Iraqi Kurdistan
Yesterday, Defense Secretary Robert Gates visited Ankara , asking a swift end to Turkey's latest military campaign in northern Iraq. He got no timetable and few reassurances in public, but today Turkey pulled out. Semih Idiz is columnist at the Turkish newspaper Milliyet.
Read the story6 minThe Housing Crisis Is Eating America's Economy
Home foreclosure may become an industry in itself. Today's New York Times features a California company called You Walk Away , which is looking for clients whose mortgages are now worth more than their houses, so they can't refinance to meet rising payments.
Read the story33 minThe Life and Death of Sister Dorothy Stang
Dorothy Stang was a Catholic nun who rode a motorcycle in the back roads of Brazil, where she helped migrant farmers to work their land in an environmentally sustainable manner. That got her on a death list with a $25,000 reward for her killing, a lot of money in rural Brazil.
Read the story9 min