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RedditAs the Bush administration unveiled a publicly-financed plan to "save" mortgage giants Freddie Mac and Fannie Mae, local residents at a town hall forum in Miami were calling for criminal prosecutions of the loan-shark mortgage brokers and investment firms that profited from poor people's housing despair.
It would be hard to think of a better place to hold a public forum on the housing crisis and and sustainable development than Overtown, one of the poorest neighborhoods in Miami, Fla. While Overtown is just minutes from downtown geographically-speaking, it's worlds apart economically and culturally.
On Saturday, The Lyric Theater was host to the second of the five part nationally broadcast town hall series,. Hundreds of community members gathered to talk about how foreclosures, bad loans and gentrification had impacted their city-- and their lives -- and what could be done about it in a town hall forum dubbed, "Magic City; Hard Times."
Miami is widely known as for the national housing crisis. "Miami's the canary in the coal mine of our economy," Gihan Perera, Executive Director of the Miami Workers Center told the engaged crowd. "In terms of rich vs. poor, uneven development, the impact of global trade and immigration: Miami is the cutting edge," Perera added.
And the Lyric Theater, once at the heart of what was called the Black Broadway, sits right where that edge cuts. Over-shadowed now, literally, by the vast condominium skyscrapers rising over downtown, the Lyric, founded in 1915 by a wealthy businessman (who was part of a large middle-class Black Miami community in the first half of the 20th century,) was almost destroyed in the 1960s when developers built a highway through these parts. From "the Harlem of the South," the area became, "Overtown," a community the road drove over – and into destitution.
Today, the Lyric survives thanks to money from the local redevelopment council, but the neighbors are worried that "development" for others will steal the last land they have.
"You can understand why gentrification's a threat," Denise Perry of Power U – a community empowerment project based in Overtown, one of the Live From Main Street panelists told me after the event. "In the 1960s developers had a choice whether to build the road near the water, nearer downtown, or smack through a thriving black community – and they chose the last."
The desolation of neighborhoods is a pattern that has rippled across this country. But where is the national media's coverage? Well, here's one newspaper headline from the weekend: "Which Candidate will Benefit from the Housing Flap?" A quarter of a million foreclosures in June is not exactly a "flap," and which politician will gain advantage is hardly the most important point.
This is exactly that sort of reporting which Live From Main Street puts into harsh relief. At the Lyric, tenant organizers, green builders, political advocacy groups and Miami residents (on the stage and off) got a chance to speak. Latasha Jones, a tenant organizer in Liberty City and panelist on Saturday, lives in an apartment with no hot water and leaks in her roof. The families she knows didn't walk willingly into sub-prime mortgages. Miami currently has four people waiting for each of the city's 10,000 units of public housing. Jones herself is on that waiting list.
''I've spent about 13 years on the waiting list for public housing,'' Jones told the Miami Herald, one of several local media outlets that came to Overtown, drawn by the national event.
At the same time, local residents are entering into bad loans due to shady mortgage practices by lenders or because their only other option was homelessness. Do you think it's fair that "relief" for the profit-makers should come from public coffers (which are already slashing public services) while immense profits remain in private hands? Darin Woods, a financial advisor from Countrywide Home Loan – got an earful from his critics at LFMS where he appeared as a panelist, but, he concluded, "[Live from Main Street] is just the sort of forum we need more of." (Florida's Attorney General joined the AG's of three other states in suing Countrywide for deceptive practices July 1.)
The presidential candidates are unlikely, ever, to talk about today's housing crisis and sustainable development in a place like Overtown. "That's why we're here," said Tracy Van Slyke, director of The Media Consortium, a network of some 45 national, independent media outlets, which is the producer of Live From Main Street. "Live From Main Street's goal is to tell real stories from real people about the issues that effect their communities, and our country, during this election season. We're cutting through political spin and horserace coverage." Pooling resources (as the Consortium has, to make LFMS possible) and working together, independent media can bring national attention to places like Overtown, and put key issues into national context.
There will be more. LFMS is a five-part series, taking place in five states in five months in the run up to November. The first event occurred June 7 in Minneapolis. The next will be in Denver, at the start of the DNC. After that, the project goes to Columbus, OH, where the topic will be voting, and finally Seattle, where the producers are convening an all–female panel to talk about national security.
Live From Main Street is a production of the Media Consortium with GRITtv.org. Portions of the program will appear on GRITtv this Thursday, July 17th, and on both satellite networks – Dish Network, CH. 9415 (Free Speech TV ) and Direct TV (Link TV) later this week. This is a community-supported reporting project (made possible also with funding from the Wallace Global Fund and the Arca Foundation.) To make a contribution, or get more information, go to LivefromMainstreet.org.
Together, we really can make a new media world.
Laura Flanders is the host of Live From Main Street and the daily news and culture program, GRITtv with Laura Flanders. Watch GRITtv on Free Speech TV (Dish Network Ch. 9415) or at GRITtv.org.
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''I've spent about 13 years on the waiting list for public housing,'' Jones told the Miami Herald, one of several local media outlets that came to Overtown, drawn by the national event."
Gee do you think she could have spent part of those 13 years....saving up the money to buy her own damn house? You know, like the rest of us do?
Posted by pontificus at 07/15/2008 @ 6:42pm
ms. flanders:
i believe you forgot to include a final </i> somewhere in your (thank you) post.
now we've got italics to.
COOL. TIME FOR A SONG:
They used to tell me I was building a dream, and so I followed the mob,
When there was earth to plow, or guns to bear, I was always there right on the job.
They used to tell me I was building a dream, with peace and glory ahead,
Why should I be standing in line, just waiting for bread?
˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘˘
Once I built a railroad, I made it run, made it race against time.
Once I built a railroad; now it's done. Brother, can you spare a dime?
Once I built a tower, up to the sun, brick, and rivet, and lime;
Once I built a tower, now it's done. Brother, can you spare a dime?
Posted by frosty zoom at 07/15/2008 @ 7:17pm
"At the same time, local residents are entering into bad loans due to shady mortgage practices by lenders or because their only other option was homelessness."
Let me understand you Ms Flanders. The only choice they had was bad loans or homelessness?
That does not compute. How could they qualify for a home if they would be homeless if they did not get the loan?
Also the bail out for for Fannie and Freddie is not the jumbo loans. One out of every two home loans in the US is with them and until recently when Congress expanded their loan limits, they didn't do jumbos.
Posted by lvliberty1 at 07/15/2008 @ 7:25pm
Or is it the modern subprime phenom that reached back in time to trash these inner city "Overtowns"?
Posted by 2HAPPY
no, they milked a very sad state of affairs for whatever promissory notes they could, thus leaving the trash to fester ever more deeply.
people with much wealth* understand how to "create" (haha) more. they know the ramifications and most probable outcome of their financial decisions. that's why they've got so many promissory electrons floating around the globe.
their having asked the peanut butter and jelly set to participate in labyrinthine schemes of debt shuffling is shameful.
those offering the impossiblycheaptoogoodtobetrue debt clearly knew the high probability of the crash and were ready for it, their promissory power safely hidden in congolese mining interests or perhaps a well trimmed hedge.
those receiving the debt offerings live in a murky world of financial understanding. so, they see short term. and when some bankoid tells them "sure, we can get you that bungalito" they go "WOW!" because to them, a bank is a stodgy place that politely shows them the door.
but all of a sudden "WOW!"
but when the crash comes, they have nothing but a vague feeling that they've somehow been used.
tsk. tsk.
Posted by frosty zoom at 07/15/2008 @ 7:30pm
Posted by lvliberty1 at 07/15/2008
seems to me that jesus would have tried to get decent housing for as many people as possible.
i don't think jesus was too fond of moneylenders. i guess.
just 'sposin'
Posted by frosty zoom at 07/15/2008 @ 7:32pm
seems to me that jesus would have tried to get decent housing for as many people as possible.
i don't think jesus was too fond of moneylenders. i guess.
just 'sposin'
Posted by frosty zoom at 07/15/2008 @ 7:32pm
Of course FZ, but that has nothing to do with my questions to Ms Flanders.
Or do you not find it odd that someone would be homeless if they didn't get approved for a loan? That would suggest that they were lying to the lender.
Posted by lvliberty1 at 07/15/2008 @ 7:42pm
Posted by Zero at 07/15/2008 @ 7:38pm
you mean like these folks:
http://cache.daylife.com/imageserve/0fhn7iX63R83n/610x.jpg
or these ones:
http://tinyurl.com/59whg3
?
? is right!
Posted by frosty zoom at 07/15/2008 @ 7:45pm
Posted by lvliberty1
i think jesus wouldn't nitpick so.
i think jesus would be walking a thousand leagues on shards of glass to be able to avoid someone, especially the meek, the humility of being used for a moneylender's gain.
of course some people can't afford a fancy new house.
i think jesus would learn to use a skilsaw and speak spanish so he could build houses that people could afford.
i think jesus would not offer them dreams of plastified opulence, but one of frugal harmony with earth.
he was a frikkin' carpenter, after all.
Posted by frosty zoom at 07/15/2008 @ 7:53pm
Always better to fill some slumlord's pockets in perpetuity than give someone a chance to own their own home. Slumping buyer's get a monthly payment that won't exceed say 25% of their income. Any loss of income due to health or economy problems will not effect residency.Debt & tenancy can be assumed by blood relatives or offered to others at the demise of the original buyer. The guarantor will be the federal government! Stop bullshit predation now! No evictions!
Posted by Sorelish at 07/15/2008 @ 10:30pm
fz: having now actually looked at the photos, let me assure you that I was not referring to those people at all -
Posted by Zero at 07/15/2008 @ 8:35pm
of course not.
just reminding myself that i am very, very wealthy.
Posted by frosty zoom at 07/15/2008 @ 11:18pm
Those who took out subprime home equity loans, actually can be considered lucky in that they got to enjoy spending those equity dollars. Those that didn't cash out of their equity, now have suffered diminished equity and got nothing!
Posted by 2HAPPY
alas......
Posted by frosty zoom at 07/15/2008 @ 11:21pm
hey,
not only are our comments in italics, but so are the links at the top of the page.
cooler.
Posted by frosty zoom at 07/16/2008 @ 12:15am
Sri lankan information portal Important information about sex, tips, accounting, news, BPO <a href="http://www.singhalaya.blogspot.com">srilanka</a>
Posted by morganwardztas at 07/16/2008 @ 02:15am
[url=http://www.singhalaya.blogspot.com]srilanka[/url]
Posted by morganwardztas at 07/16/2008 @ 02:17am
frosty zoom
you have too much time on your hands.
have you stopped listening to the siren call of the muses?
take your kid out for a bicycle ride.
Posted by emile duBois at 07/16/2008 @ 07:58am
italics are so effete.
Posted by emile duBois at 07/16/2008 @ 11:53am
Yay. Let's let those who are getting kicked out of their houses go. After all screw them they are only the common man right? They don't get bailouts. But the companies who are now falling apart because of their underhanded lending tactics, let's save them. THIS is why I believe in bailing out the common man, because the company like Freddie Mac and Fannie Mae who are not reaping what they sowed for giving out underhanded loans are being bailed out by the government so they never actually have to feel the repercussions of their actions beyond a little bit of a stock drop. Let them sink and then let all the investors go after the CEO's with pitch forks. If you aren't going to help the common man, you can't help the companies. If you are going to help the companies, you have to help the common man. We are not a corporate socialism. Stop giving my tax dollars to companies because they are poorly run.
Posted by Cccomfo1 at 07/16/2008 @ 1:02pm
Stop giving my tax dollars to companies because they are poorly run.
Posted by Cccomfo1 at 07/16/2008 @ 1:02pm
Take a look at the Donald Trump situation a few years back. This arrogant guy goes bankrupt and is bailed out by Uncle Sam. Now, I can't flip the television on without having to listen to his crap.
Any of us posting here go bankrupt and we're pretty much screwed. The excuse they give us is that if the banks or Donald Trump lose, we all lose.
A bigger line of B.S. never existed. Right now, we are all losing and a very very small fraction are winning and the sad part of is this is that we, the losers, are paying for their imcompetance.
The rethugs love the military though it's a socialistic endeavor. Somewhat ironic that they would love the one entity that is exactly opposite of what they practice and preach. But, from reading the posts here, they are actually socialists after all, they just believe in socialism for the wealthy and screw the masses.
Posted by Wolfgang1 at 07/16/2008 @ 2:22pm
The rethugs love the military though it's a socialistic endeavor. Somewhat ironic that they would love the one entity that is exactly opposite of what they practice and preach. But, from reading the posts here, they are actually socialists after all, they just believe in socialism for the wealthy and screw the masses.
Posted by Wolfgang1 at 07/16/2008 @ 2:22pm
I'm constantly amazed how some people can be so satisfied with being so consistently wrong.
Thus Wolfgang shows complete ignorance about both conservative beliefs and military service and yet seems smug about his ignorance.
As I've noted on many occasions, rather than socialist, military service is a contract agreement between an entity (the Fed govt) and individuals. What Wolfgang and other leftists fail to understand is the nature of contracts. In exchange and in agreement with the terms and conditions of the contract, both sides receive what each needs as a result of the contract agreement.
There is nothing socialistic about it. If the individual fails to live up to the agreement, they cannot receive the agreed upon compensation which includes housing and medical care.
You are free to negotiate an agreement with any employer in this country a similar type of agreement. It also would not be defined as socialist.
Posted by lvliberty1 at 07/16/2008 @ 4:20pm
You are free to negotiate an agreement with any employer in this country a similar type of agreement. It also would not be defined as socialist. Posted by lvliberty1 at 07/16/2008 @ 4:20pm
Funny how you talk about being completely wrong and yet you entirely missed the point. He is talking abou the military industrial complex. As own contracting military tech to be built by "private" companies.
Posted by Cccomfo1 at 07/16/2008 @ 4:37pm
You are free to negotiate an agreement with any employer in this country a similar type of agreement. It also would not be defined as socialist.
Posted by lvliberty1 at 07/16/2008 @ 4:20pm
Liv, You are the one showing your ignorance. Yes, the military personnel sign up for service and all that. I agree with you 100% on that part.
Here's your ignorance. Who pays for this service? The federal government. Where do the soldiers eat? At base facilities paid for by the federal government. Where do they go to buy items? At the base commisary funded by the federal government.
Everything the military has is owned by the government. It's not privatized with the exception of Bush/Cheney trying to privatize it. The Air Force, Navy, Army, Marines and Coast Guard all are owned by the federal government of the United States. Halliburton does not function directly under federal guidance, but the military does making it a socialistic system. Don't confuse democracy with socialism or capitalism. Socialism is not a bad word nor is capitalism. But socialism or capitalism aren't necessarily good things all by themselves either.
And I'll go you one further. When you are a soldier in the military and have signed your name on that dotted line, uncle sam owns your ass. If you don't believe that, ask the guys over in Iraq who would like to be somewhere else think about this. I'll bet half of them would be more than pleased to be reassigned a stateside duty versus risking getting their asses blown off by a country (Iraq) that could give a rip less about them.
Posted by Wolfgang1 at 07/16/2008 @ 4:48pm
Funny how you talk about being completely wrong and yet you entirely missed the point. He is talking abou the military industrial complex. As own contracting military tech to be built by "private" companies.
Posted by Cccomfo1 at 07/16/2008 @ 4:37pm
No, he said:
"The rethugs love the military though it's a socialistic endeavor. Somewhat ironic that they would love the one entity that is exactly opposite of what they practice and preach.
Posted by Wolfgang1 at 07/16/2008 @ 2:22pm"
Nothing about the MIC in his statement. How do you manage to read that into it?
Furthermore just out of curiosity, how is the contracting of agreements with American corporations socialistic?
Posted by lvliberty1 at 07/16/2008 @ 4:51pm
Which is why our weapons work and are cheaper to build than if we let the govt build them in house...they would be REALLY over budget and wouldn't work, resulting in more of our own getting killed when called upon.. Posted by JOMAMMA at 07/16/2008 @ 6:58pm
Actually. The best gun in the world. Was made in Communist Russia. The AK-47 is held to be the best gun ever created. The Russians also make damn good helicopters and they built the largest working nuclear weapon ever. Look up Tsar Bomba. The US's best ever was 15 megatons. They made a 50 megaton one that blew out windows 1000 miles away. Believe me. The Communists at their height made better weapons than us they just don't anymore. The best we could come up with was the M-16. Which if you sneezed wrong would stop working. You could fill the AK-47 with mud and it would still fire.
Posted by Cccomfo1 at 07/17/2008 @ 03:51am
IF you don't want your tax dollars going to poorly run companies, why do you want those dollars going to poorly run "common man"? For me, I don't want my tax dollars going to either....they are adults since no minors are allowed to sign legal documents...on either side of the table. Posted by 2HAPPY at 07/16/2008 @ 9:18p
Happy you missed a key point there. It's either help no one or help everyone. Right now we help companies. So we in my eyes we need to help the people. As long as we support companies we have to help the people. As long as we help the people we help the companies. I don't want my tax dollars going to companies, I don't MIND them going to people but I don't care because I give to charity either way.
Posted by Cccomfo1 at 07/17/2008 @ 03:55am
Which is why our weapons work and are cheaper to build than if we let the govt build them in house...they would be REALLY over budget and wouldn't work, resulting in more of our own getting killed when called upon.. Posted by JOMAMMA at 07/16/2008 @ 6:58pm
Consider this. Communist Russia managed to create a gun, that is cheaper than any other, more effective than any other and works in any condition. Why do you think insurgents love it so much? It will be present in ever single war there is until we no longer have ammo for it.
Posted by Cccomfo1 at 07/17/2008 @ 03:58am
He is talking abou the military industrial complex. As own contracting military tech to be built by "private" companies.
Posted by Cccomfo1 at 07/16/2008 @ 4:37pm
CC, You are correct. I was referring to the military industrial complex including companies like Halliburton making bundles of cash off the system. I was also pointing out how, unlike Halliburton, our soldiers, once committed have zero choice, they die at the orders of their commanders.
So, Halliburton makes huge profits off their no bid contracts doled out to them by the pentagon (federally funded group again Liv) as do all of the other private contractors, but make no mistake Liv, those companies make their money off federal tax dollars. That's not private competition or business or even capitalism, it's socialism. Whats the differnce between our goverment paying Boeing versus the Soviet Union paying factory workers to make planes? Both are paid for by tax payer money.
Now, you can almost say that Blackwater is a private organization, but unfortunately, they've been landing a lot of federal projects which once again are paid for with federal tax dollars which again is a form of socialism. It is not private business paying these folks it's the government.
Posted by Wolfgang1 at 07/17/2008 @ 08:15am
The best we could come up with was the M-16. Which if you sneezed wrong would stop working....Posted by Cccomfo1 at 07/17/2008 @ 03:51am
The same could be said of our Abrams tanks and helicopters in use in Iraq and Afghanistan now. Then there's our fighter planes engines being chewed up by the sand as well.
All the money we spend, our defense contractors can't seem to make durable equipment. This could be intentional so that this equipment needs to be replaced and replaced frequently. The AK-47 wouldn't be as big of a money maker as the M-16 because the AK doesn't stop functioning on a sneeze. This is what happens when business and war get mixed up. They make weapons they can sell a bunch of rather than reliable weapons that won't let our guys down in the heat of battle.
Posted by Wolfgang1 at 07/17/2008 @ 09:23am
AK 47s...fine...Stealth, Tomahawks missles, Shrikes...another world, and that is the world I am refering.... Posted by JOMAMMA at 07/17/2008 @ 08:51am
Wasn't the basis of all modern ICBM's developed by the Russians? Oh yeah the reds were also the first into space. America doesn't always develop the first or the best. We just have lately because we are the only superpower. We have always had a privatized military complex. If we actually had someone competing right now I gurantee you we would not be the most advanced army in the world. We would be on par with someone else at best.
The problem with using privatized money to build advanced weapons reminds me of a quote from Armageddon. When they are sitting in the rocket waiting to take off he turns to him and says "You realize we are sitting on 2000 pounds of jet fuel in a machine that has 1000 moving parts built by the lowest bidder." It's cheap but no always effective.
Posted by Cccomfo1 at 07/17/2008 @ 12:15pm
Nothing about the MIC in his statement. How do you manage to read that into it?
Posted by lvliberty1 at 07/16/2008 @ 4:51pm
The reason I could read that without him having to confirm is because I know how to read between the lines.
"CC, You are correct. I was referring to the military industrial complex including companies like Halliburton making bundles of cash off the system."
The privatization of the military is socialist. It is essentially the same as the government stimulating the economy by building dams, road, buildings whatever. Companies like Halliburton ONLY make their money from government contracts. They may have a few on the side but the bulk of their money is from government. That is corporate socialism.
Posted by Cccomfo1 at 07/17/2008 @ 12:20pm