Kucinich: Neighborhoods are “blameless victims” of mortgage crisis
At a Domestic Policy Subcommittee of the House Oversight and Government Reform Committee hearing on the impact of the subprime mortgage crisis on neighborhoods, Chairman Dennis Kucinich (D-Ohio) says that while “the meltdown of subprime lending has been a genuine tragedy” for individuals, the “totally blameless victims” are the neighborhoods affected by vacant and abandoned property. Kucinich lists the repercussions of abandoned properties, including falling property value, loss of rental units, rise in crime, and loss in tax revenue. (1:00)
May 21, 2008
One Response to “Kucinich: Neighborhoods are “blameless victims” of mortgage crisis”
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June 10th, 2008 at 8:52 pm
Thank you Dennis for standing up for real Americans. The Federal Reserve needs to be abolished.