Quote:
Originally Posted by timalkin
....As an aside, if anyone knows of any lending institution that discriminates against minorities, please report them to the authorities. There are federal laws against such things that are taken very seriously.
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Again, you jump right to the simple answer.....because it is illegal, it probably is not occuring.
Employment discrimination exists even though it is illegal. It is just not as overt as in the past.
And lending discrimination exists even though it is illegal, just not as overt as the past because of a variety of factors, including the fact that in many cases, the laws dont require lenders to collect or provide personal data, including race.
From a June 2008 GAO report:
Quote:
GAO's June 2008 report found that most research suggests that discrimination may play a role in certain types of nonmortgage lending, but data limitations complicate efforts by researchers and regulators to better understand this issue. For example, available studies indicate that African-American owned small businesses are denied loans more often or pay higher interest rates than white-owned businesses with similar risk characteristics. While the primary data source for these studies, a periodic FRB small business survey, provides important insights into possible discrimination, it also has limits compared to HMDA data...
U.S. GAO - Fair Lending: Race and Gender Data Are Limited for Nonmortgage Lending
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This is not from a generation or two ago.....this was six months ago.
I guess that since
"most research suggests...and available studies indicate..." is not 100% conclusive or irrefutable, you have your out.
If you accept even the possibility that
available studies indicate that African-American owned small businesses are denied loans more often or pay higher interest rates than white-owned businesses with similar risk characteristics....how is that the fault of the black community?
I honestly dont understand why you cant see that the issue of discrimination and racism is not as simple (or black and white as it were) as you suggest at every opportunity. It is simply wrong, in no uncertain terms, to blame it all on the black community.