People are out of work, deeply in debt, and having their homes foreclosed. It's a grim picture. However, that is not an accurate picture of the whole country. The fact is that credit conditions vary radically from state to state.
We've tried and seen the consequences of a laissez faire approach. The fact is that the market cannot correct itself. It's time for the guiding hand of government to provide the push that can send homeowners, communities and the economy on the road to recovery.