Jesse Jackson got what he wanted
The Reverend Jesse Jackson gave a talk in New Road Baptist Church, Oxford, on 13 November, after being made an honorary fellow of Regent’s Park College, Oxford. I agree with most of what he said, except his final exhortation that people in sub-prime debt should be offered debt restructuring (rather than bankruptcy?). I thought that was not radical enough.
You cannot spell ‘mortgages’ without ‘age’ and ‘mort’: We need to find a way to work out housing allocation without most people having to spend a large chunk of their lives working (for ‘The Man’) to pay off their student-loan debt and mortgages. Security of housing does not necessarily have to mean ownership.
We also have to work out a way for energy-efficient measures to be implemented on all housing stock: be it rental (state-owned or private) or occupant-owned. Anyway, Jesse got what he wanted (almost) this week: Guardian Business: Bush imposes curb on mortgage rises. Be careful what you wish for.
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