1. None of the links provided in this thread actually works. What is wrong?
2. I think that any hint that the subprime loan is some form of corporate conspiracy against people of color is ludicrous. How on earth is such a conspiracy supposed to work?
Furthermore, such conspiratorial theories obscure the fact that this is not some form of aberration or ill will of the evil elites, but the normal operation of laissez faire market system. Stated diffrently, the sub-prime crisis is not a result of capitalists targeting ethnic minorities, but a result of capitalists trying to make a profit by any means - just as stated in the economics textbook. The fact that minorities are the ones most affected is simply an artifact that they typically have the least defences against such profiteering schemes.
Dollars & Sense had a piece on the subject that steer away from such conspiratorial views, and instead proposes systemic-institutional solutions such as community lending institutions, better wages, and better regulation of the banking industry. http://www.dollarsandsense.org/archives/2006/1106karger.html (I hope this link works)
Wojtek
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