The national bailout/Rescue Plan is now law. Wall Street can begin its upward ascension. Perhaps it won't be business as usual, that remains to be seen.
However, for the people on main street, not much has changed.In a number of instances due to circumstances beyond their control, many still find their backs against a wall with no way out. They continue to struggle silently with financial burdens that threaten their way of life. far too many were barely making it before the national crisis. The poor performance of the economy over the last eight years is taking its toll on some of the most vulnerable amongst us.
This past summer I wrote about just such a situation in Mortgage Meltdown Claims A Life. The post spoke to the isolation and despair that the foreclosure process had brought upon a family, in particular the matriarch and the importance of knowing that we are worth so much more than the sum total of our possessions. Of course this is easier said than realized. Especially, when there doesn't seem to be any support for the most principled rights, regardless of circumstances. What Becomes of the Foreclosed, addresses the challenges of staying connected in order to exercise the right to vote amidst very personal and troubling times, with the onset of foreclosure.
Today's news gave yet another incident. This time, a 90 year old woman in Akron, Ohio decided to attempt suicide because she was in foreclosure. Times remain very troubling for the inhabitants of main street and for many there is little hope of a bailout/rescue plan designed with them in mind.
The sanctity of one's home is probably one of the most cherished possessions. The consequences of having that sanctity stripped is devastating. Before this happens, those in need should reach out to the Homeownership Preservation Foundation at -888-995-HOPE, a nonprofit group that offers free advice to homeowners.
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Hi William: Nice post. I do agree. The average American is constantly on the receiving end of what goes wrong on wall street. Unfortunately, I can't point to too many instances where the average American has been benefited by wall street.
As you know, when you have been given the direction (parents, mentors, etc.) and have the time / ability to pay attention you, more often than not, have backup plans and strategies for times like this. As you stated in a previous comment on one of my blogs, real estate equity is our friend and, for some of us, our only saving grace for times like these.
As a bumper stick reads, if you're not outraged, you're not paying attention!