After the 2008 crash Americans have lost $17 trillions in household wealth, including more than £6 trillions in homeowner equity. In addition, communities across the country are facing devastating cuts to essential services as state and local governments struggle to fix budget deficits.

Nearly 12 million families have either lost their homes to foreclosure alreadyor are currently in the process of foreclosure, and another 14 million are ‘under-water’ on their mortgage, i.e. they are in negative equity. On a smaller scale the UK suffers from very similar problems, but the difference between the two countries is that the US has spawned a whole series of community fightback movements which are being effective in protecting citizens and getting revenge on the banks. Continue reading →