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Actually that doesn't mean much. When you want to sell a Chevy, you tend to call people who own Chevys. When you want to sell any production, you market to people who have already bought that product.We saw an epidemic of mortgage fraud 90% of which was committed by unscrupulous lenders leading up to the sub-prime looting:We saw this extensively during the sub-prime crash. What was it? It was having a house, that was declining in value. You borrow $100,000 to purchase a house, and in few years, the house is worth $80,000. Now you owe more money than the house is worth
The Social Structure of Mortgage Discrimination
"Our analyses reveal specific mechanisms through which loan originators identified and gained the trust of black and Latino borrowers in order to place them into higher-cost, higher-risk loans than similarly situated white borrowers.
"Loan originators sought out lists of individuals already borrowing money to buy consumer goods in predominantly black and Latino neighborhoods to find potential borrowers, and exploited intermediaries within local social networks, such as community or religious leaders, to gain those borrowers’ trust."
Just like if you want to market loans, you market to people who have loans.
But again, you stood against redlining. So what did you expect?
"I want them to make loans to poor minorities, but I don't want them making loans to poor minorities if it isn't a good idea"... well that's why they were not making loans to them to begin with.