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House Slave (translated Documentary)
Literature房奴(译文纪实)
(us) David Dane
Few accounts of the 2008 financial crisis are told from the perspective of the millions of ordinary Americans who bore the greatest pain of the economic collapse. Because in such a system, how people are treated depends on their wealth and power. Since 2009, three ordinary Americans have decided to uncover this mystery, clarify the crimes of Wall Street, and explore the reasons why. They are a cancer care nurse, a car salesman and an expert in insurance fraud. They are foreclosure victims, who are often referred to as "morts" or house slaves. They discovered that the entire mortgage industry had fundamentally undermined the centuries-old U. S. Real estate legal system; that the millions of documents that caused people to lose their homes to foreclosure were all false; that all Americans who took out mortgages were taking a huge gamble, and they were very likely to be evicted from their homes with nothing, even if they complied with the law and made their payments on time every time. This is a major failure of public policy. We don't know how many families have lost their homes during the foreclosure crisis, but estimates are at least closer to 6 million. Numerous studies show that people who live in foreclosure areas suffer more physical and psychological illnesses. A 2014 report in the American Journal of Public Health concluded that foreclosure rates are related to the number of suicides. The foreclosure crisis is the most damaging to the wealth of middle-class American families in the past century.
Few accounts of the 2008 financial crisis are told from the perspective of the millions of ordinary Americans who bore the greatest pain of the economic collapse. Because in such a system, how people are treated depends on their wealth and power. Since 2009, three ordinary Americans have decided to uncover this mystery, clarify the crimes of Wall Street, and explore the reasons why. They are a cancer care nurse, a car salesman and an expert in insurance fraud. They are foreclosure victims, who are often referred to as "morts" or house slaves. They discovered that the entire mortgage industry had fundamentally undermined the centuries-old U. S. Real estate legal system; that the millions of documents that caused people to lose their homes to foreclosure were all false; that all Americans who took out mortgages were taking a huge gamble, and they were very likely to be evicted from their homes with nothing, even if they complied with the law and made their payments on time every time. This is a major failure of public policy. We don't know how many families have lost their homes during the foreclosure crisis, but estimates are at least closer to 6 million. Numerous studies show that people who live in foreclosure areas suffer more physical and psychological illnesses. A 2014 report in the American Journal of Public Health concluded that foreclosure rates are related to the number of suicides. The foreclosure crisis is the most damaging to the wealth of middle-class American families in the past century.