Netroots Panel Demands Action From Obama On Foreclosures

by Zach Carter, HuffPost
Saturday, July 2nd, 2011

MINNEAPOLIS -- Neither Congress nor the Obama administration have shown much initiative to fix the nation's deepening foreclosure problem of late, but the issue remains a dominant subject of activist attention and a major source of middle class anxiety.

That's the takeaway from a packed Friday panel on bank regulation and foreclosures at the annual Netroots Nation conference, an annual meeting of internet-savvy progressives.

"It is a continuation of the insane Wall Street behavior of the 2000s," said financial blogger Mike Konczal, comparing the recent practice of pushing through foreclosures with shoddy documentation to the frenzy to push out subprime mortgages at the height of the housing bubble.