Mortgages and the Jewish Question

For most of us, the current crisis in America’s housing market is a distant echo, a barely understood series of headlines that might as well be in Greek, in a section of the newspaper often left unread. But the crisis is real. It threatens hundreds of thousands of American families who are in danger of losing their homes, and it threatens America’s status as a superpower on the world stage. It is the first payment for George Bush’s other mismanagement, the fiscal and financial wrong-headedness that so many, including this page, have warned about for years.

Although this crisis consists of a complicated series of events, each leading to the next, it is not hard to understand. Thanks partly to the decline of America’s manufacturing-based economy, partly to the deregulation of banking and finance two decades ago, and partly to tax “reforms,” there’s been a tremendous growth in financial services — borrowing and lending for profit — as a share of our economy in recent years. More...
If you want to know the meaning of the word "chutzpah", just read this article!