In the first year of the Clinton administration, HUD also pressured banks to increase their loans to minorities by 20 percent and brought legal action against bankers who turned down a higher percentage of minority applicants than white applicants.
Because of the government-fostered collapse of the housing market, beginning under Carter and spreading under Obama, the median net worth of black and Hispanic households declined by 53 percent and 66 percent, respectivel,y between 2005 and 2009. Progressive Democrats caused the single greatest economic blow ever delivered to blacks and Hispanics. The primary victims, the very people the reckless lending practices were to help, lost their homes.
Progressives encouraged and tricked blacks and Hispanics into buying houses in bad locations dooming most to unending debt or bankruptcy.
Ruth Schaffer, Dornsife