Subprime Paradox

News that Clinton campaign manager Maggie Williams was paid $200,000 to help a New York-based subprime lender revamp its business practices brings up one of the interesting racial cross-currents of the crisis. There was -- still is -- among politicians and activists and some economics a belief that home ownership is the key to building real wealth among African Americans, and companies who made it easier to take out home equity loans were to be lauded for their willingness to reach out to these communities, and not knocked for any attempt to exploit the financial ignorance of poorer black families.