08 Sep 2022 Shepard: BOA’S Race-Based Loans Serve Its Woke Execs
In his latest commentary for Real Clear Markets, Free Enterprise Project Director Scott Shepard satirizes Bank of America’s racial “equity” mortgage program that would provide loans for black and Hispanic first-time homebuyers but not white ones.
“This is astonishing and pernicious on so many levels. There is first, of course, the concern about giving mortgages to people with bad credit ratings or little savings. But it also provides a clear illustration of how white billionaires are trying to buy unnecessary absolution for their wealth by crushing poor (and, inevitably, middle class) “non-diverse” people,” writes Scott.
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