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The Morning News

Tuesday, December 2, 2008

Currently: binding our very best in hardcover
Today’s Feature: “Bright Inaugural Day, Washington” by Lauren Frey
Latest in Digest: Lincoln Logorrhea

Watching • Don’t Call It a Bailout

I think about the bailout and imagine a Wall Street investor flailing about in a kids’ splasher pool crying ‘cause the big-boys pushed him in. The latter-termed Rescue Package makes me imagine a coast guard descending from a helicopter regretting the stupidity of those stranded in sea of bad debt. Foreclosure has less resonance. But, as SoCal Connected reports, foreclosure means money for crews emptying foreclosed homes and for the guy who spray-paints lawns green, giving empty houses “curb appeal.” No one’s really happy about it, even the removal crew kingpin agrees: “This is a disaster… This is not something we are excited about.” There are unexpected consequences of Wall Street’s negligence—California’s foreclosed homes come with neglected backyard pools, a breeding crowd for mosquitos, and the West Nile Virus.

But don’t worry: Hipsters will save our economy. —Mike Smith, Oct. 10, 2008
SHARE THIS • EMAIL THIS • FILE UNDER: California, Hipsters, Subprime Mortgage Crisis, Wall Street

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