NC on Schedule to Break Foreclosure Record

Prediction: 70,476 total foreclosure filings in NC before Thanksgiving.

Last year: another record high of 63,286, but that was last year.

"While some foreclosures came from speculating investors and second-home owners, most are indicative of people who just got caught in loans they couldn't afford, especially if they lost a job or had a serious illness."

The bleak silver lining: "...most foreclosure experts say the crisis will peak next year."

Well, at least our new Republican majorities in the General Assembly are well disposed toward helping people out, rather than coddling the big banks, and praise God for their determination to exempt NC from health insurance reform, so that the terminally ill can also be terminally out in the street.

Madam Foxx Votes No on Foreclosure Prevention Act

No surprise.

The Foreclosure Prevention Act of 2008 is designed to help 400,000 homeowners avoid foreclosure. The bill also includes a federal bailout for mortgage giants Fannie Mae and Freddie Mac.

Virginia Foxx voted no, blaming the victims of mortgage scams for being victims. You should have known better. So what if you lose your house? Some packing crates make excellent shelter.

The bill passed in the House anyway, 272-152, and El Presidente says he'll sign it.

Bonkers, We're Going

"Home foreclosures in North Carolina increased 78 percent in June..."

We had to read that sentence twice to make sure we weren't hallucinating.

But, of course, it's all just a mental disorder. To make anything sinister out of that statistic is not only crazy but probably unpatriotic.

Forgive us. We need a padded cell.

Doctor Gramm and Nurse Foxx will no doubt serve us herbal tea and Graham crackers. And talk us back into the bright, spangly pleasure-dome of the Bush economy.