Rokakis: 'For the First Time I am Afraid' - Cities heading for Banktrupcy

A truly great reportage about Jim Rokakis, treasurer of the Cuyahoga County in Ohio. As a result of the sub-prime crisis, hundreds of thousands of people in his county were forced to sell their house. As a result, tax revenues have gone down badly, affecting public facilities such as schools badly.

Back in 2000 he went to the Fed in Cleveland to warn them and pushed for action to stop the dubious mortgages. Nothing was done, they didn't take him serious.
The capital city of Ohio, Columbus, blocked their proposal to take action on a local level in order to stop sub-prime mortgages from being granted.

He is very right. Now candidates are being forced to do something. But ask yourself how integer Obama and McCain are by promising to reduce taxes while there's such a huge economic mess. Instead they should be fair and tell people how the situation is.


Anyhow watch yourself. The show is Dutch, but the interview is self-evidently in English (enlarge the screen by right clicking -> 'in en uitzoemen' -> volledig scherm. Starting at 13.28 minutes):
player.omroep.nl...


At the right upper corner you see 'instelling' If you click on that, you can choose between Quicktime or Media player as well as you can choose your internet speed. Choose 'langzaam' for slow 'snel' for fast.




[edit on 27-9-2008 by Mdv2]

[edit on 27-9-2008 by Mdv2]

Hmmm. I cant get the interview to play for me. But it was still a good post.

I will try to see if I can find another source for it.

Send me a U2U and I'll try to help you opening it. If it doesn't work for others either let me know and I'll try to find an alternative source.