Does the Beeb Know About Detroit?

The Marxists at Pravda, er, I mean the BBC, are out again with this piece on repossessions. Get a load of this spin:

Detroit 'has most repossessions'

The Detroit area had the highest rate of homes entering the repossession process in the US in 2007, a study by mortgage research firm RealtyTrac says.

Several cities in California followed close behind, the analysis suggested, highlighting growing problems in some previously prosperous areas.

Okay, so far it's a straight up news story. I doubt that it is an incredible revelation to anybody that Detroit, with its ailing car industry, has a lot of mortgage defaults. But then the BBC editors inject their Marxist spin.

Analysts say that sellers often neglected to properly explain to the borrowers - usually on low-incomes - that the new sub-prime mortgages would "reset" after two years.

Notice how a failed mortgage is diagnosed as neglect by the sellers to "properly explain". What utter garbage. Who gets to define what is "proper" explanation?

Were these so called "analysts" in the room when the mortgage was signed? No. So how would anybody, including the BBC editors, have any idea?

This is a typical MSM technique of claiming somebody else "said" what the editors really think, so they can use the news piece for their agenda. In the BBC's case, their agenda tends to be anti-US and pro-socialist.

I have signed two mortgages in my life (and paid them both off early, by the way), and you can bet I read every word carefully before I signed off. I also had to initial pages with any changes and sign statements verifying that I understood the loan and had any questions answered.

The BBC, working hard for Marxism every day.