Many More Foreclosures To Come

In my previous post I spoke of the barrier that the massive amount of bad consumer debt poses to economic recovery.  Mother Jones has an article by Andy Knoll describing large numbers of foreclosures hiding in the background that have yet to be processed, and the millions more that have fallen behind but have managed to hold on thus far.  The story is a vivid illustration of the need to resolve as much of this bad debt as quickly as possible.  You can find it here:  http://motherjones.com/mojo/2010/03/foreclosure-shadow-market-grows