Whites were also turned down for loans at a higher rate than Asians. Why? Because their credit histories weren’t as good. The whole “racism” behind the turning down of blacks and Latinos for loans was a fraud. Why would any lending institution turn down a worthy loan if they knew they could make money? The truth is they wouldn’t. Lending institutions were simply applying their normal standards for lending. Until, of course, the Clinton admin enforced the CRA and ultimately crashed the economic system more than a decade later.
good post. You nailed it exactly.