Lehman Brothers, Fannie Mae, Freddie Mac and AIG. The collapse of these firms will tighten credit further and tighter credit will mean further slow down in the housing market and the credit market in general (banks and credit companies will increase their rates and people will borrow less). This, of course means fewer skilled jobs and blue-collar jobs, which, in turn will disproportionately effect Philadelphia neighborhoods. James Thindwahl examines the connection between unemployment and violence in a piece in "In These Times" this week...
When Anthony Haydin woke up on June 30, he did not imagine his street would be the scene of one of Chicago’s most deadly shootings. Three people had been shot in an apartment right across the street from his. Police said the victims had been murdered in a “gang-and-drug related shooting.”
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