Fending off Foreclosures with Penny Auctions During the Great Depression, farmers in the Midwest held vigilante "penny auctions" to stave off foreclosures. As the nation faces turmoil in the housing market, history professor Hy Berman explores what can be learned from this strategy.
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Fending off Foreclosures with Penny Auctions

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Fending off Foreclosures with Penny Auctions

Fending off Foreclosures with Penny Auctions

Fending off Foreclosures with Penny Auctions

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During the Great Depression, farmers in the Midwest held "penny auctions" to stave off foreclosures. As the nation faces turmoil in the housing market, Andrea Seabrook talks with Hy Berman, a history professor at the University of Minnesota, about what can be learned from this strategy.