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Published on Jan 18, 2008
aside from slavery, right??
Report: Subprime Mortgage Crisis Causing African Americans to Experience Greatest Loss of Wealth in Modern U.S. History
A startling new report has predicted the subprime mortgage crisis will cause people of color to lose up to $213 billion, leading to the greatest loss of wealth in modern U.S. history. The figure appears in a new report from United for a Fair Economy called "Foreclosed: The State of the Dream 2008." The group accuses mortgage lenders of deliberately targeting the poor and people of color with high-cost loans. We speak with Dedrick Muhammad, co-author of the report. [includes rush transcript]