Both Jay Leno and Arianna Huffington have given glowing reviews to Capitalism: a love story. The movie equally indicts Republicans and Democrats for the current economic crisis. The film also features Elizabeth Warren who is now responsible for Congressional oversight of bailout money. She also happens to be the Harvard professor who conducted a study on bankruptcy which found the number one reason for getting in over your head: medical bills. And the number one reason for foreclosures: medical bills.
Yet, as Michael Moore points out in the above interview with Huffington, we never heard this angle reported as mass foreclosures began. Instead ,we heard people lived beyond their means, consumers were irresponsible.
Of course, Ms. Warren and Harvard researchers weren’t the first to learn the impact of unexpected illness on families. The University of Michigan’s Institute for Social Research has covered this extensively for years. Harvard’s study just bolsters what academics have already known.