Excellent article. For millions, walking away from their underwater mortgage is perhaps the best financial decision in their lives; providing that they learned from it.
http://housingdoom.com/2009/11/05/the-cost-of-not-walking-away-from-an-underwater-mortgage/
“Explored by an Anglo-Greek team of archaeologists and marine geologists and known as Pavlopetri, the sunken settlement dates back some 5,000 years to the time of Homer’s heroes and in terms of size and wealth of detail is unprecedented, experts say.
‘There is now no doubt that this is the oldest submerged town in the world,’ said Dr Jon Henderson, associate professor of underwater archaeology at the University of Nottingham. ‘It has remains dating from 2800 to 1200 BC, long before the glory days of classical Greece. There are older sunken sites in the world but none can be considered to be planned towns such as this, which is why it is unique.’
The site, which straddles 30,000 square meters of ocean floor off the southern Peloponnese, is believed to have been consumed by the sea around 1000 BC. Although discovered by a British oceanographer some 40 years ago, it was only this year that marine archaeologists, aided by digital technology, were able to properly survey the ruins,” quoting UK’s Guardian.
link here .
Excellent articles about the legal “wall” that Wall Street is hitting when trying to repossess homes in foreclosure proceedings.
NEXT CRISIS HITS WALL ST.: JUDGES START NIXING FORECLOSURES
http://www.counterpunch.org/martens10212009.html
NOW THE GOLDMAN MONSTER IS SEIZING PEOPLES’ HOMES
