T'was the Night Before Christmas...

On The Night Before Xmas, All Through The House... Ooops, We Just Lost The House
By Danny Schechter

T'was the Night Before Christmas, a season of closure. We just lost our house because of foreclosure

Clement Moore, the author of the original poem called, “A Visit From St. Nick,� recited like a mantra at this time of year, once lived down in my Manhattan neighborhood called Chelsea. He lived on a farm then but probably couldn’t afford today’s gentrified rents. He was actually not just a kindly old poet spinning verses for Santa and the reindeers, but a scholar who compiled a two volume Hebrew Dictionary.

Even then, things were not always what they appeared to be.

On WAMU, BoA, Amex and Visa
I can’t find the money that’s needed to please you
We have just lost our home, oops, there goes the car
As prices go up, with the economy down, I’ve moved to a bar

For all the traditional tree trimming and house warming today, there is a growing dread as more and more home-owners default on their homes. The action hammer is now competing with the Christmas carols for our attention as whole neighborhoods pay the price for the subprime scandal that has yet to be ended or prosecuted. As the housing bubble bursts, governments are facing a loss of revenues and will be forced to slash schools and services. MORE