Chicago’s Credit Crunch
November 10th, 2008Seemingly everyday, news headlines mark the fall of another financial giant and the rising number of home-owners facing foreclosure.What began as a financial crunch for high-risk borrowers and big banks on Wall Street, the credit crisis of today has everyone pinching pennies. Foreclosed homes mean neighborhoods in flux and no credit means less investments, growth, food on the table and money for school.But as all eyes focus on Wall Street and the White House, what’s happening here in Chicago? How can we protect our homes, communities and secure our futures? Will nonprofits and small business feel the effects?On this episode of Community, Media and You, we’ll hear how the credit crisis is impacting our city and how nonprofits and consumers can protect themselves from Geoff Smith of the Woodstock Institute, Calvin Holmes of the Chicago Community Loan Fund and attorney Dan Lindsey, from the Legal Assistance Foundation.
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