Stockton featured on 60 Minutes

House Of Cards: The Mortgage Mess

In the last six months, Americans have seen their investments shrink, their property values plummet, and the country edge closer towards a recession. At the heart of the problem is something called the subprime mortgage crisis, which began last summer and continues to ricochet through the economy.

And as correspondent Steve Kroft reports, it started in places like Stockton, Calif.

It's always great to ask people 'Did you see my city on 60 Minutes last night?! They said we're ground zero for the current financial crisis and a microcosm of everything that went wrong!'