The Senate approved an $838 billion economic rescue plan today, setting the stage for tough haggling this week over the final package of tax cuts and spending aimed at averting a deeper recession. President Obama wants the Democratic-controlled Congress to deliver a package to his desk by this weekend, but the Senate and House of Representatives must first reconcile differences between their two bills.
The process got a little murkier this afternoon when Treasury Secretary Timothy Geithner rolled out his controversial Financial Stabilization Plan which calls for an additional $50 billion to help dam up the flood of foreclosures drowning our economy.
How the eight million people currently at risk of losing their homes in the still-metastasizing foreclosure crisis will fare if the bill passes remains to be seen. In order to keep their voice in the conversation, our friends at Brave New Foundation have launched a new campaign, Fighting for Our Homes with an innovative website that enables anyone affected by the housing crisis to tell their tale in their own words, either by recording it on camera or writing it down and submitting it with a photo of the house in jeopardy.
Watch as people from around the country give accounts of their nightmarish ordeals. These stories fill up an interactive Google map symbolizing the toll this economic meltdown has taken on Main Street homeowners, reminding us of the consequences of irresponsible lending and corporate malfeasance.
Have you been affected by the housing meltdown? Trapped in a predatory loan? Do you know anyone else whose life has been turned upside down by the collapse of the real estate market? Record your story, or the story of a friend, family member, co-worker, or neighbor, and send it to the BNF. If you have a video camera or webcam, please send videos. You can also add your written story and photos to a growing interactive map.
The site has already collected almost two dozen videos. Here are two of them.
Penny from Houston:
Holly from Orlando: