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Criminal Law

: Crime & Federalism

Minorities and Subprime Loans

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As might be expected, minorities are being blamed for the market crash.  If banks hadn't loaned money to blacks, we'd all be fine.  This is a myth.  At least in 1999, minorities only received 18% of all subprime loans.  Which means you can thank whites for this mess.  (Though the racists won't.) There is, however, a race angle.  Republicans wanted to reform Fannie and Freddie.  The Congressional Black Caucus, as well as other Democrats, resisted this effort. read more

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Full post as published by Crime & Federalism on September 30, 2008 (boomark / email).

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