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Appeared in: Volume 3, Number 6
Published on: July 1, 2008
A Nation In Debt

The subprime mortgage debacle has deep roots in the decline of thrift.

Barbara Dafoe Whitehead is co-director of the National Marriage Project at Rutgers University. This essay is excerpted and adapted from For a New Thrift: Confronting the Debt Culture, a report released in May by the Commission on Thrift, co-sponsored by the Institute for American Values, the Institute for Advanced Studies in Culture, the New America Foundation, Public Agenda, Demos, the Consumer Federation of America and the National Federation of Community Development Credit Unions. Sources for all data can be found in the full report.
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