April 10, 2012 | It's been five years since the bursting of the housing bubble kicked off the financial crisis that shook the world.
And in those years, the banks received trillions in bailouts and ultra-low-interest loans while millions of homeowners around the country have been left to fend for themselves as they faced down foreclosure with little help from the government. Banks have foreclosed on 4 million homes since 2007, and there are millions more to come. Proposed settlements have been weak, and programs designed to help keep people in their family homes have done little other than funnel money back into the pockets of the same bankers who created the crisis.
The latest news doesn't get much better — progressive online organizing group CREDO sent an email out this week claiming that the task force President Obama announced in his State of the Union, led in part by progressive champion New York Attorney General Eric Schneiderman, has been understaffed, perhaps deliberately so.