Ms. Jacobsons account and that of the other loan officer who gave an affidavit, Tony Paschal, both of whom have left Wells Fargo, provide the first detailed accusations of deliberate racial steering into subprimes by one of the nations top banks.
So Wells Fargo tried to give black people subprimes and not the white people. My question is why would the black people go for these loans and not shop around?
Well then you're evading the REAL issue that was brought forth for your consideration, by simply blaming the victims, aren't you?
If this is true...
a recent analysis of mortgage lending in New York City, found that black households making more than $68,000 a year were nearly five times as likely to hold high-interest subprime mortgages as whites of similar or even lower incomes. (The disparity was greater for Wells Fargo borrowers, as 2 percent of whites in that income group hold subprime loans and 16.1 percent of blacks.)
Then it would behoove us to find our WHY that happened.
Why?
Because that is a fairly damning bit of evidence suggesting that some kind of institutional racism was in place to have such an outcome.
Now there might be innocuous (i.e, non racist) reasons why there is that disparity between races.
But an outcome so wildly different certainly needs investigation to understand why this happened.
Simply blaming the victims of this outcome, by asking why the Blacks didn't seek other mortgages entirely misses the point.
But whenever racism is the issue I cannot help how many people on this board suddenly rather miss the point.
Odd that.