Sub Prime ~ The New Jim Crow?

A good friend of mine used to work in the financial lending industry.  We used to argue about black people getting turned down for loans or paying higher interest rates than whites with identical credit.  He didn’t think it happened.  When I showed him some reports showing it to be true, he was shocked because he believed making money was more important than racism even to a racist.  Well, that’s not always true.

Just ask realtor/Los Angeles Clippers owner Donald Sterling who has had a long standing reputation for not renting or selling his Beverly Hills properties to African-Americans. 

And now I read that the NAACP is suing Wells Fargo and HSBC for giving sub-prime rates to blacks with identical credit to their white counterparts.  I disagree with the woman in this article.  She did NOT have to sign these papers.  She should have backed out of the deal.

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