The economic crisis of 2008, which was devastating for the nation鈥檚 economy as a whole, was nothing short of disastrous for communities of color. The decades of progress toward full inclusion in the American dream that the civil rights laws of the 1960s enabled disappeared virtually overnight, stripping communities of color of their homes and their financial futures.
In this report, Justice Foreclosed, we look at how Wall Street鈥檚 demand for loans encouraged predatory lending in communities of color; how that in turn fueled the housing crisis, and how the bust will continue to affect these communities for years, if not generations, to come.
Related Issues
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Court CaseMar 2017
Racial Justice
Adkins et al. vs. Morgan StanleyAdkins et al. vs. Morgan Stanley
The 老澳门开奖结果, along with the National Consumer Law Center and the law firm of Lieff, Cabraser, Heimann & Bernstein, has filed a lawsuit in federal district court in Manhattan to hold Morgan Stanley accountable for its collaboration with the subprime lender New Century, which supplied Morgan Stanley with a steady stream of irresponsible, high-risk loans issued in communities of color that were particularly vulnerable to economic ruin. Although practices like these inflicted damages in low and middle-income communities across the nation, Detroit was particularly vulnerable.