Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
Friday 10 February 2012
US Foreclosures Go Sky High
The Bank of America Plaza skyscraper in the state of Georgia, the tallest building in the southern US, is just another lamb to the slaughter after it was auctioned off for about half the amount it was worth five years ago. Once the symbol of the area's booming commercial real-estate market, the tower now represents its widespread failure. After the housing bubble burst, millions of homes have been foreclosed in the country. President Barack Obama's programmes have not helped nearly the number of people he said they would, while Mitt Romney, the Republican front-runner, says the answer is to let the market bottom out. Al Jazeera's Patty Culhane reports from Washington.
