Monday, June 23, 2014

Frontline episode commentary, 1/25/2014

frankly, Frontline didn't go deep enough. It was Weyerhauser and builders like Quadrant who demanded higher profits and thus pressured for faster sales and the "fund [them]" tactic of the mortgage industry which aggressively sought low income buyers who could not truly afford them (the fogged mirror), and many of those houses are now flipped by investors into rentals. Also the effects of this pervasive scam continue to unravel the stability of the world's economies --- it's not just a historic news event.

Now I'm not saying the finance industry is just the fall guy. I think they're the front. It's the builders and contractors that are the fiery engine fueled by the commodification and processing of the fundamental resources---wood, petroleum, coal and natural gas---which muscle the public to buy, buy, buy the story, by the product buy the image of association regulated homeownership. Frontline could have followed the money to these giants... but failure and fronts are apparently contagious.

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