In communities all across the country — from the inner city to well-heeled suburbs — foreclosures are rampant. And the worst of the subprime mortgage meltdown may be yet to come.
Just in time for the holidays: bankers versus American homeowners who only wanted a piece of the American dream.
This hour, On Point: the real human cost of the subprime mortgage debacle.Guests:
Greg Ip, economics reporter for The Wall Street Journal.
Eric Halperin, Washington director of the Center for Responsible Lending.
Christopher Hudak, Housing Counseling Coordinator for the Boulder County Housing Authority.
Mayor Douglas Palmer, mayor of Trenton, New Jersey, and president of the U.S. Conference of Mayors.
This program aired on December 11, 2007.