"Civil Rights" Complaint Targets Wall Street Rating Firms

"Civil Rights" Complaint Targets Wall Street Rating Firms

www.latimes.com

In what is apparently the first legal action of its kind, an association of community-based organizations has filed a federal civil rights complaint against two of the three largest Wall Street rating firms, charging that their inflated ratings on subprime mortgage bonds disproportionately caused financial harm to African American and Latino home buyers across the country.

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Related AboveTopSecret.com Discussion Threads:
Sub-Prime Crisis
Civil Rights

Well, well, well:
Remember the complaints years ago that it was redlining when not enough loans were being made to "minorities", because of racist unobtainable-loan-criteria? Now it's reverse redlining when too many loans that cannot be paid back are being made to "minorities", because of racist lowering of loan-criteria? It's like the racist police have abandoned our neighbourhoods! when crime is out of control, but as soon as the police come back the racist police are racially-profiling and harassing our community!

Don't you just love the fact that American - if not global - society is slowly slipping into a state of eternal childhood, where - if you complain loud and often enough - you won't be blamed for mistakes solely attributable to you?

Kinda reminds me of the mother that sued the supermarket because she tripped over her own uncontrollable child running around her.

www.latimes.com
(visit the link for the full news article)