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by rayiner
2139 days ago
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> That was nearly 90 years ago. Did government bureaucrats micro-managing the economy stop being racist in that time? > Redlining was made illegal under federal law - i.e. by the government - in the 70s, not least because the private sector had absolutely no interest in doing anything to stop it. Redlining was invented by the government! The term refers to markings on FHA maps. The FHA massively distorted the mortgage market by insuring mortgages, but refusing to insure mortgages in Black neighborhoods. That made such mortgages vastly riskier for private sector lenders. |
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