More Bank Mergers Bad Deals For The Poor
NEWSWEEK: Was overseeing Inner-city lending an assignment you wanted? LINSEY: When Chairman [Alan] Greenspan gave me the assignment, I said, “Do I have a choice?” and he said, “No.” Is lending discrimination really a problem? The amount of discrimination that’s occurring is probably quite small. If you compare the amount of home mortgage lending to some kind of crude base of what the applicant pool might be, families who earn over $25,000, you find that there’s almost no difference in the proportion [of blacks, whites and Hispanics] that have gotten mortgages....