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Lost Vegas: Boom turns to bust in south Nevada

submitted by wagthedog1
1 decade 5 years 5 months 2 weeks ago

Current.TV: Vanguard special (first of 3 parts) on the collapse of the US economy. During the boom years, no place in America boomed more than Las Vegas. But when the economy collapsed, Vegas fell hard. Laura Ling tours the wreckage of Sin City, from unemployed strippers and half-built, abandoned casino projects, to hospitals turning away cancer patients and ambulances, to one of the few remaining boom industries--evicting people.

Even if the present tenants have fully paid the rent, when the bank forecloses on the owners they were renting from, they are often evicted with very little or no notice. Many residents are struggling to make ends meet. One former mortgage industry employee now performs exotic dances and the tips are not as great as they once were. Local government budgets have also shrunk exactly when increasing number of the unemployed are seeking state services. Also, record numbers of students turned out to protest cuts in education.