Fallout: The Financial Crisis

A stadium-sized financial seminar

Curt Nickisch Aug 12, 2008
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Fallout: The Financial Crisis

A stadium-sized financial seminar

Curt Nickisch Aug 12, 2008
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TEXT OF STORY

Scott Jagow: Today, the Federal Reserve Bank of Boston holds a seminar for people on the brink of foreclosure. To make sure people show up, the Fed’s holding this thing at a pro football stadium. Curt Nickisch reports from WBUR.


Curt Nickisch: The home field of the New England Patriots may see the most frustrated people since Tom Brady threw an interception in the AFC Championship game in January.

Frustrated Fan: Are you kidding me? Brady? Come on!

Boston Fed spokesman Tom Lavelle says the foreclosure prevention workshop will be held in a skybox that only privileged ticketholders see during NFL games.

Tom Lavelle: We’re hopeful that it may draw out the isolated borrower — someone that’s feeling alone, feeling anxious and confused by these challenging times.

Struggling homeowners can meet with one hundred loan officers and nonprofit advisors. Lavelle says it’s so much easier than cutting through all the red tape over the phone.

Lavelle: Usually it’s competition that brings out the best. On this occasion, the best is coming together and reaching out to our fellow citizens in need.

Tackled for a loss, red zone, goal-line stand — Lavelle says he’s heard plenty of bad football analogies. He doesn’t care, as long as people who may be able to stay in their homes find out how.

In Boston, I’m Curt Nickisch for Marketplace.

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