It's been a few years since the big collapse and slowly the economy is starting to recover. Now that a few more companies are hiring and banks are lending again, it's a perfect time to play the blame game. Every week it seems as though there's a new study pointing the finger at someone else for the collapsed housing market.
This one's interesting. According to the Center for American Progress, Latinos are bearing the brunt of mortgage foreclosures. Nearly 12 percent compared to 9.8 for African Americans and 5 percent for whites.
That is troubling. So who's to blame? The greedy money-grubbing banks of course.
According to the report, Latinos and other people of color were, "disproportionately targeted for risky subprime loans and were victims of predatory lending practices."
And while that may be true, you could argue that the banks would have been just as "discriminating" had they denied risky mortgages for the same people altogether.
We may never know who's truly to blame for the recession, or if anyone is to blame at all. But one thing's for sure: when the economy goes south, everyone feels it, and when it comes to the banks, there's no way around it. You're damned if you do, damned if you don't. READ MORE
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