Third World America - Arianna Huffington [97]
84 There had already been more than eight hundred thousand: Julianne Peitone, “Foreclosure Filings Jump 24%,” 16 Apr. 2009, www.money.cnn.com.
85 But even after major concessions: Ryan Grim, “Banks Beat Homeowners: Foreclosure Bill Killed in Senate,” 31 May 2009, www.huffingtonpost.com.
86 the Mortgage Bankers Association: Margaret Chadbourn, “Senate Defeats Mortgage ‘Cram-Down’ as Democrats Balk (Update 2),” 30 Apr. 2010, www.bloomberg.com.
87 As ProPublica’s Paul Kiel reported: Paul Kiel, “Disorganization at Banks Causing Mistaken Foreclosures,” 4 May 2010, www.propublica.org.
88 According to a study by the Brennan Center: Melanca Clark and Maggie Baron, “Foreclosures: A Crisis in Legal Representation,” Brennan Center for Justice 6 Oct. 2009, www.brennancenter.org.
89 In New York’s Nassau County: Ibid.
90 Having legal help can be the difference: Ibid.
91 In 1996, the budget for the Legal Services Corporation: Ibid.
92 At this point, to match: Ibid.
93 The second barrier is that restrictions: Ibid.
94 The $789 billion stimulus plan: “After the Stimulus,” 12 Feb. 2009, www.nytimes.com.
95 Almost forty-one million homes: Pew Charitable Trusts, “Defaulting on the Dream: States Respond to America’s Foreclosure Crisis,” Apr. 2008, www.pewtrusts.org.
96 The value of these homes: Ibid.
97 This translates into a total property value loss: Ibid.
98 A 1 percent increase in foreclosures: Dan Immergluck and Geoff Smith, “The Impact of Single-Family Mortgage Foreclosures on Neighborhood Crime,” Housing Studies 21, 6 (Nov. 2006): 851–66.
99 A September 2009 New York Times story: Erik Eckholm, “Surge in Homeless Pupils Strains Schools,” 5 Sep. 2009, www.nytimes.com.
100 The National Center on Family Homelessness: National Center on Family Homelessness, “America’s Youngest Outcasts: State Report Card on Child Homelessness,” 2009, www.homelesschildrenamerica.org.
101 San Antonio, for example, enrolled: Erik Eckholm, “Surge in Homeless Pupils Strains Schools,” 5 Sep. 2009, www.nytimes.com.
102 homeless children are four times as likely: National Center on Family Homelessness, “Annual Report: Working to End Family Homelessness,” 2009, www.homelesschildrenamerica.org.
103 twice as likely to have learning: National Center on Family Homelessness, “Homeless Children: America’s New Outcasts,” 1999, www.homelesschildrenamerica.org.
104 “We see eight-year-olds telling Mom …”: Erik Eckholm, “Surge in Homeless Pupils Strains Schools,” 5 Sep. 2009, www.nytimes.com.
105 Banks don’t want to adjust nonperforming mortgages: Melanca Clark and Maggie Baron, “Foreclosures: A Crisis in Legal Representation,” Brennan Center for Justice, 6 Oct. 2009, www.brennancenter.org.
106 The four largest banks: “Miller, Ellison Introduce Bill to Address Conflict of Interest in Mortgage Companies,” 1 Apr. 2010, www.bradmiller.house.gov.
107 These banks collectively hold: Mike Konczal, “Principal Writedowns and the Fake Stress Test,” 9 Mar. 2010, www.rortybomb.wordpress.com.
108 “The banks are too big to fail”: Matthew Karnitschnig, Deborah Solomon, Liam Pleven, and Jon E. Hilsenrath, “U.S. to Take over AIG in $85 Billion Bailout; Central Banks Inject Cash as Credit Dries Up,” 16 Sep. 2008, www.wsj.com.
109 As of January 2010, U.S. consumers: Jeremy M. Simon, “Consumer Credit Card Balances Fall for 16th Straight Month,” 5 Mar. 2010, www.creditcards.com.
110 98 percent of which is credit card debt: Ben Woolsey and Matt Schulz, “Credit Card Statistics, Industry Facts, Debt Statistics,” 13 May 2010, www.creditcards.com.
111 There are more than 576 million credit cards: Ibid.
112 The average credit cardholder has 3.5 cards: Ibid.
113 “For much of America,” says Elizabeth Warren: “Elizabeth Warren on Credit Card ‘Tricks and Traps,’ ” NOW, 2 Jan. 2009, www.pbs.org.
114 In fact, in 2007, even before the economic crisis began: National Association for the Advancement of Colored People, “Usury: The Impact of Credit Card Debt and High Interest Rates on African American Wealth,”