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Looting class killers: Health effects of foreclosures

Wall Street Journal, of all places:

New research by Janet Currie of Princeton University and Erdal Tekin of Georgia State University shows a direct correlation between foreclosure rates and the health of residents in Arizona, California, Florida and New Jersey. The economists concluded in a paper published this month by the National Bureau of Economic Research that an increase of 100 foreclosures corresponded to a 7.2% rise in emergency room visits and hospitalizations for hypertension, and an 8.1% increase for diabetes, among people aged 20 to 49.

Each rise of 100 foreclosures was also associated with 12% more visits related to anxiety in the same age category. And the same rise in foreclosures was associated with 39% more visits for suicide attempts among the same group, though this still represents a small number of patients [except to the famlies, of course], the researchers say.

This makes Obama's HAMP program -- which was yet another predatory lending program to benefit the banksters, except run directly by the government -- all the more reprehensible and immoral.

It also shows you where the real war is, and where the deaths and the casualties are. Clue stick: Nobody who's collecting a bonus is on the casualty list.

NOTE The accounting control fraud that led to the foreclosure crisis was systemic, and the entire ruling collected on it, with zero, one, or maybe two or three degrees of separation. The largest upward transfer of wealth in world history, Jamie Galbraith called it.

Banksters: Fraud. Accountants: Fraud. Salesman and traders: Fraud. Systems administrators: Fraud. Ratings agencies: Fraud. Regulators: Fraud. Financial journalists: Fraud. Professors of economics: Fraud. Lawyers: Fraud. The entire looting class. Now ask yourself why there are no criminal prosecutions, even though they stole a lot of money and killed a lot of people human resources. Because they're all in on it, that's why. "Accounting control fraud on the Orient Express."

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Submitted by JuliaWilliams on

And it reminds me why I burn with white-hot anger at the destruction of our safety net. I see the results every freaking night I work in the ED. Death and disability because of job loss, health insurance loss, homelessness, lack of nutrition, it is getting worse all the time. I cry, I sympathize, I try to help "fix" the problem, but the problem is systemic and beyond what anyone can fix in the ED. Which is why I have to get back out on the streets (RL has held me back lately, a serious illness in my immediate family, but dammit, we gotta fight!)

twig's picture
Submitted by twig on

that San Francisco city officials are having a "net" built beneath the Golden Gate bridge to catch people. Definitely related to the economy. (emphasis added)

San Francisco's suicide prevention lines say many people who call are mentioning the economy as a factor in their despair:

“We constantly hear, ‘I’m going to be homeless; I would rather be dead than be homeless,’ the head of the suicide hot line said.

If you read the story, it mentions the cost of the net -- $45 million. Seems like the money would be better spent giving people jobs. If you're determined to check out, the bridge isn't the only option. But apparently that's not even a consideration.

I really feel terrible for the children who are suffering through all this. And then there are adults who aren't getting the care they need. Stress, anxiety, depression -- lethal weapons against people who've done nothing wrong. This country is run by sadists. Where is karma when you need it?

Eureka Springs's picture
Submitted by Eureka Springs on

If your comment/info isn't a campaign post FOR buy-partisanship I don't know what is.

I should be thrilled, at long last this year my mortgage will be paid. One would think being able to save up and fix the roof, maybe insulate things etc.. would be in order. But I will have to weigh those things against health insuring myself... which would cost 80 percent or more of my freed up mortgage payment flow.