Remember That Foreclosure Crisis, A Lovely Thing Of The Past

Actually not a thing of the past. People withhout jobs or unemployment benefits can't pay their mortgages.

As Philadelphia economist Kevin Gillen sees it, "The recession that started with the bursting of the housing bubble has come full circle.

"Whereas housing led us into the recession, the recession is now leading housing."

The big myth is the crisis was "averted" because the financial system was "saved." The reality is that they saved the banksters, but left the unemployment and foreclosures crises in place.