This stinks to high heaven of the attitude that gave us the Community Reinvestment Act.
I don't buy it, AW. I call complete and utter horse crap on this. We have been hearing this for years, and it gave us reams and reams of liberal rules, regulations, oversights, and policies to solve a problem that NEVER EXISTED.
What existed IN REALITY was a disparity in incomes and assets due to liberal policies that kept blacks from moving off of the "liberal plantation".
The DEVASTATING solution was to force banks to lend money to people who COULD NEVER REPAY IT. That's it. They cried racism then, it was PROVEN to be false and showed that the books were cooked to make it look like racism so they could have justification for the Community Reinvestment Act of 1977, which planted the seeds of destruction for our economy in much the same way the liberal policies of the Wilson and Roosevelt administrations planted the seeds of future destruction with their liberal policies.
This "structured racism" is a load of crap, and it makes me angrier than Hell. I would challenge this guy to this: let him submit his request for a loan in the blind to a random group of bankers ANYWHERE. He should submit it anonymously, making DAMN sure to remove the "African American" BS checkbox from his loan, and let's see how his loan application goes.
“What existed IN REALITY was a disparity in incomes and assets due to liberal policies that kept blacks from moving off of the “liberal plantation”.”
Stats are unavailable for loans in general, but even when adjusted for income, blacks default on student loans at 5x the rate of whites.