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Chicago Tonight talks to Woodstock's Geoff Smith and discusses local foreclosures, trouble on Wall Street, and why we need a bailout for home owners stuck in the middle |
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Chicago Tonight’s Carol Marin and Elizabeth Brackett sit down with Geoff Smith, Woodstock Institute’s vice president, to discuss why rising foreclosures and the national financial crisis are changing the face of Chicago region communities.
The first segment, which aired Wednesday, September 17 on WTTW,
focused on growing portfolio of foreclosed properties owned by lenders
and strategies to get these homes back into productive use. Also
featuring Woodstock board member and president of MB Financial, Tommy
Fitzgibbon, and others, the panel addressed the growing concern about
the disproportionate impact of foreclosure on communities of color.
The second segment, which aired Tuesday, September 24, brought the
national financial crisis home to Chicago. Weighing the pros and cons
of a national bailout of the financial system, Smith and two local
academics debated whether or not a systemic approach would be effective
and why direct help to homeowners is critical to the success of this
plan.
Click here to view this episode.
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