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[anglerfish96]

According to The Federal Reserve Bank of New York, the 11233 zip code that encompasses Bedford-Stuyvesant and Crown Heights had the highest foreclosure rates for subprime mortgages in the entire nation in October. More than one in four people, or 25.2%, with subprime loans in the zip code lost their homes to foreclosure. That's almost four times

Comments

[flying_squid]

And Bush thinks shelling out a few hundred bucks to random middle-class people to spend on crap in Wal-Marts, when it's all from the same pile of money anyway, will fix this....

[anglerfish96]

I don't think he or anyone around him wants to fix anything. They want to give the impression they are fixing things and stabilizing the economy surely, but there are profits to be made in this, and if it undermines the power/forces relocation of lower-class minorities, so much the better. Interesting note: the hardest hit areas are also the last holdouts of below-market (for New York) property values and have suspiciously convenient access to Manhattan and/or downtown Brooklyn and/or Williamsburg, which now commands prices higher than some of the richest parts of Manhattan.