As described in this article by Emily Badger:
In the years leading up to the housing crash, public data suggest that
black would-be homeowners in Detroit were 70 percent more likely than
white borrowers to receive a risky subprime loan from the now-defunct
lender New Century Mortgage Company. This is the central statistic embedded in a 70-page lawsuit
filed Monday in New York against Morgan Stanley, the investment bank
that went on to purchase a large share of those loans for repackaging in
mortgage-backed securities.The suit, filed by the ACLU and the National Consumer Law Center,
alleges that a kind of "reverse-redlining" became the norm in Detroit.
Fifty years ago, discriminatory housing policies prevented many blacks
from obtaining home mortgages. Barely five years ago, this suit suggests
that a different kind of racial discrimination was taking place in
Detroit: Predatory lenders couldn’t approve enough high-risk loans to
black borrowers, increasing Morgan Stanley’s profits and
disproportionately leaving many of these black homeowners in financial
ruin.
Racial discrimination is always bad.
The vast majority of cars in Britain use all-season car tyres as standard, nonetheless there are actually many different types of tyres, each with their own pros and cons in various weather and road conditions.
This kind of stuff has been going on for too long
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