Joe Stiglitz: There's One Main Roadblock To A U.S. Recovery

Joe Stiglitz: There's One Main Roadblock To A U.S. Recovery
Professor of the Columbia University Joseph E. Stiglitz gestures as he speaks during a session at the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 25 ,2012. The overarching theme of the meeting, which will take place from Jan. 25 to 29, is "The Great Transformation: Shaping New Models". (AP Photo/Michel Euler)
Professor of the Columbia University Joseph E. Stiglitz gestures as he speaks during a session at the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 25 ,2012. The overarching theme of the meeting, which will take place from Jan. 25 to 29, is "The Great Transformation: Shaping New Models". (AP Photo/Michel Euler)

MORE than four million Americans have lost their homes since the housing bubble began bursting six years ago. An additional 3.5 million homeowners are in the foreclosure process or are so delinquent on payments that they will be soon. With 13.5 million homeowners underwater -- they owe more than their home is now worth -- the odds are high that many millions more will lose their homes.

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