The Tragedy of Home Foreclosure
Takes An Even More Tragic Turn
You knew it would come to this eventually. The Boston Globe reports that a woman facing foreclosure on her home committed suicide last month. The 53-year-old shot herself to death with her husband's high-powered rifle 90 minutes before the house was set to go to auction. To compound the tragedy, the auction had already been postponed. She left a note instructing her family to take the life insurance money and save the house. The harrowing story prompted the editors of the Harvard Business Review to write this on the publication's blog: "It’s widely debated whether business has a moral dimension. Many argue vehemently that it doesn’t—a position that becomes harder to defend when that lack of morality turns garish and unseemly. Throughout the mortgage crisis, predatory practice has been in full flower, an entire industry Ponzi chain of ungoverned greed and unfixed accountability. The human consequences of predation are coming home to roost, and it is tempting to see them as the outcome of evil."