POVERTY

Hope Amid a Downturn

By Matthew Philips | NEWSWEEK
Published Jul 26, 2008
From the magazine issue dated Aug 4, 2008

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  • Posted By: EMMA6789 @ 08/18/2008 4:12:16 AM

    I'm confused. How does the government (social services) and "nonprofit" agencies buy private homes and motels? Only the government and the media would think that all of the people who have been "let go" and have lost their homes "are opportunities" to warehouse people instead of increasing employment! But I guess the quote of the czar is right "The prosperity always trickles up, not down".

  • Posted By: phiomalibumalibu @ 07/28/2008 5:45:49 PM

    Banks aren't stupid. The will only sell or donate in un-desired neighborhoods...then take the write-off.

    Also, the ploy seems to be working for the larger banks who became jealous of the oil industry profits.
    "Hey, we want some of that" Let's find a way to drive down real-estate values. Foreclose on hundreds of thousands of properties, and keep the good ones. Wait a year and drive the prices up so we can sell for billions.

    We have noticed that the banks aren't even talking about their Bank-Owned-Real-Estate in good areas.

  • Posted By: FarrahAshline @ 07/28/2008 11:32:46 AM

    I'm happy to read at least some benefit to this recession.

    Farrah Ashline

  • Posted By: Intelligentsia @ 07/28/2008 10:21:30 AM

    Dear Editor: There is no Wooster, Mass. There is a Worcester, Mass. and a Wooster, Ohio. Please try doing your job better than a monkey.

  • Posted By: archmsu @ 07/27/2008 5:00:13 PM

    Because maybe they'll get a bail-out from the hard working tax-payers too?

    • Posted By: srgtick @ 07/28/2008 12:56:13 AM

      Yeah archmsu, screw the damned mentally ill and handicapped. How dare they be born with schizophrenia or lose limbs in a war. I want my 46" plasma!

  • Posted By: abadreview @ 07/27/2008 9:26:22 PM

    Awesome news! Good for the homeless!

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