Minorities Hit Hardest by Foreclosures in New York - NYTimes.com: "Defaults occur three times as often in mostly minority census tracts as in mostly white ones. Eighty-five percent of the worst-hit neighborhoods — where the default rate is at least double the regional average — have a majority of black and Latino homeowners.
And the hardest blows rain down on the backbone of minority neighborhoods: the black middle class."
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The Bill Clinton/Henry Cisneros strategy was to force banks to lend money to exactly the folks who are now being "hit hardest by foreclosure." Fifteen years into this experiment it seems there have been mixed results.
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