AND WE'RE JUST NOW FINDING THIS OUT!?

From Reason:

Yesterday, researchers at the University of Virginia took an in-depth look at just where foreclosures are happening. It turns out that 87 percent of foreclosures housing value loss is taking place in just four states--California, Florida, Arizona and Nevada. According the press release describing the study:

National housing price declines and foreclosures have not been as severe as some analyses have indicated, and they are not as important as financial manipulations in bringing on the global recession, according to a new analysis of foreclosures in 50 states, 35 metropolitan areas and 236 counties by University of Virginia professor William Lucy and graduate student Jeff Herlitz.

But don't let that stop everyone for supporting the government takeover of the economy. Bring on more "financial manipulations"!

We voted for communism, that's what we should get! Chope NOW!