Like many folks in the equity movement, I’ve been stunned and saddened by the sub-prime mortgage (and now credit) crisis. But, if I’m being honest, I haven’t actually UNDERSTOOD it at all. I’ve tried. I read a bunch of news stories. I pored through The Economist and listened to Marketplace. But it never really sank in. How could this mess have gotten so bad and gone on so long?

Well, now I understand….and it’s thanks to the folks at This American Life. Yesterday, I finally got around to listening to the podcast of this past weekend’s show, “The Giant Pool of Money.”

It was a truly enlightening hour of radio, wherein they talk with folks all along the mortgage chain — from the high-flying Wall Street execs to under-trained mortgage middle men to a Marine facing foreclosure on his East Flatbush, NY, home. Here’s how they describe it:

A special program about the housing crisis. We explain it all to you. What does the housing crisis have to do with the collapse of the investment bank Bear Stearns? Why did banks make half-million dollar loans to people without jobs or income? And why is everyone talking so much about the 1930s? It all comes back to the Giant Pool of Money.

Listen to the whole program here.

With food prices climbing and the economy on shaky legs, more and more Americans are taking the food security of their families and their communities into their own hands.

An insightful piece in today’s NY Times (”Urban Farmers’ Crops Go from Vacant Lot to Market“) shows how innovative residents of low-income communities are using training from local nonprofits and even some funding from city coffers to help kick-start urban farms.

I know that these urban farms have really helped invigorate my neighborhood of Bedford-Stuyvesant in Brooklyn. In fact, a 60-person delegation from the UN Commission on Sustainable Development is coming this weekend to Bed-Stuy to visit a couple community gardens, like the Bed-Stuy Farm (photo from their site).

Also, it’s worth pointing out that the Times’ story was written by Tracie McMillan, one of the best and most tenacious reporters when it comes to issues of food access and low-income communities. Visit her site to check out some of her recent work.

The Washington Post yesterday featured an interesting look at the “cadre of young black activists…using the Internet in an attempt to eclipse traditional civil rights organizations such as the NAACP and hit the refresh button on the civil rights movement.”

Led by the bright and innovative folks at ColorofChange.org, the movement is gaining steam, influence and members every day. The movement has carved a niche for itself by rallying around traditionally overlooked issues like the Jena 6, the demolition of New Orleans public housing and even the relatively wonky concerns about a FEC commission nominee’s questionable stands on voter suppression issues.

Blogger Gina McCauley, 32, who is organizing the first conference of nonwhite bloggers this summer in Atlanta, said that what Jones and Rucker have started “can potentially become a new Niagara movement,” a reference to the small contingent of black intellectuals, including W.E.B. Du Bois, who met near Niagara Falls in 1905 to form an organization to oppose segregation. The organization eventually became the NAACP.

Others have another name for the new efforts by black bloggers: Civil Rights 2.0. Blogger L.N. Rock said that if abolitionist Frederick Douglass, former congressman Adam Clayton Powell Jr., civil rights organizer Bayard Rustin and “people like that were around today, they would have blogs.”

The organizing and policy potential of this movement is limitless. We’re already seeing real on-the-ground progress. By supporting and patronizing these sites, we can unleash another major force in the Equity Movement.

The Guardian, the UK’s premier newspaper at covering in-depth issues in the States, today features an insightful piece on the “epic housing crisis” facing New Orleans. The article highlights the startling rental housing statistics researched by Annie Clark and Kalima Rose in the landmark PolicyLink report, “Bringing Louisiana Renters Back Home.” (pdf) The article features quotes from Ms. Clark, as well.

There are few incentives for landlords to renovate their rental properties. The Louisiana Recovery Authority’s “Road Home” program offers incentives for “small rental property owners” but it is not popular with mom-and-pop landlords, according to Annie Clark of progressive policy and research institute PolicyLink.

“A landlord says, ‘Yes I am going to rehabilitate my rental units,’” Clark explained, “but then he or she has to get a bank loan which is then paid back by Road Home. Banks are very hesitant to give loans to people this way.”

Clark added that Housing and Urban Development (HUD) has rehabilitated only about 1,500 units of the 4,600 units it has set aside for seniors, the disabled and poor working families in New Orleans. “HUD really has shirked its responsibility in these units,” Clark said.

The full piece is definitely worth a read to get a sense of the depth of the housing crisis still ongoing in New Orleans.

Even though it’s the inaugural “If You Only Read One Thing Today…” (IYOROTT) post, we’re already going to break our own rules — rather than “one thing,” today we’ll bring you many.

Below are links to a sampling of the wonderful local media coverage of the Regional Equity ‘08 National Summit in New Orleans this past week. If you didn’t get to join us, these dispatches will give you a flavor of this phenomenal event. If you did join us, you can relive some of the highlights. Please check these out:

• “Survivors have red-carpet day: Activists at summit cheer Katrina documentary stars,” The Times-Picayune
• “Obama, Clinton and the Black-Brown Divide,” Salon.com
• “Statistics Show Poor not Returning to N.O.,” CBS4
• “Danny Glover leads discussion on poverty, Katrina,” Associated Press
• “Protestors rally for Public Housing,” NBC6
• “Housing Survey Show Public Housing Residents Don’t Want to Return,” ABC26
• “National Summit on Poverty and Equity Coming to New Orleans,” Louisiana Weekly
• “Angela Glover Blackwell: PolicyLink’s Driving Force!,” New Orleans Tribune