Blasting a huge hole through the psyche of the American Middle Class

Foreclosures due to unemployment are ramping.

Story on Bloomberg of how well off families are filing Chapter 11 as Chapter 7 has been made difficult by Congress getting elected to office on banks money:

Wealthy Families Face Bankruptcy on Real Estate Crash

http://www.bloomberg.com/apps/news?pid=20603037&sid=a6l3xr8MUE08

Talk about divergence of reality between Wall Street and Main Street.

They keep harping about home sales at the low end on government freebies.

Elsewhere foreclosures pile up and inventory lengthens to nearly two years supply.

tarn

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