[lbo-talk] Sub-prime crisis in Kansas City

John Thornton jthorn65 at sbcglobal.net
Fri Jan 4 14:10:32 PST 2008


Jordan Hayes wrote:
> Seth asks:
>
>
>> [...] why these people wouldn't give a black guy a prime mortage ...
>>
>
> It's not really up to them anymore, it's up to FICO. Count that in a
> good column. But I do think that near the end -- especially after the
> early part of 2005 -- poor areas were targeted and sold a bill of goods
> by vultures. Whether that's a racist conspiracy or not, I couldn't say.
>
> /jordan

Poor areas were targeted and sold a load of crap deliberately because they were an easy target of exploitation. It is certainly a racist set of policies that leas to this but how does one define conspiracy? Does anyone doubt several almost exclusively white men sitting in an office deliberately set about taking advantage of poor people of color? Does anyone doubt that poor people of color were targeted more often that poor white people?

John Thornton



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