Institutional Racism in Mortgage Loans?

Here is a good example of institutionalized racism in banks’ lending practices. Usually to receive a mortgage loan you have to at least be working class. But even when black applicants have decent jobs, their loan applications are turned down 14% more often than those of white applicants. This is happening now in Baltimore where 63% of its residents are black, but it’s probably a safe bet that it’s happening in many other places in the U.S.

Read the full article in the Guardian


About Bruce Lerro

Bruce Lerro has taught for 25 years as an adjunct college professor of psychology at Golden Gate University, Dominican University and Diablo Valley College. He has applied a Vygotskian socio-historical perspective to his five books: "From Earth-Spirits to Sky-Gods: the Socio-ecological Origins of Monotheism, Individualism and Hyper-Abstract Reasoning", "Power in Eden: The Emergence of Gender Hierarchies in the Ancient World" (co-authored with Christopher Chase-Dunn), "Social Change: Globalization from the Stone Age to the Present", "Lucifer's Labyrinth: Individualism, Hyper-Abstract Thinking and the Process of Becoming Civilized", and "The Magickal Enchantment of Materialism: Why Marxists Need Neopaganism". He is also a representational artist specializing in pen-and-ink drawings. Bruce is a libertarian communist and lives in Olympia, WA.

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