Tag: racism

Racism *and* predatory lending, a stellar "business-savvy" 1-2 punch from Toyota

Oh look, Yet Another Case of "financing while brown" -- this time from Toyota: "Here’s how the markup worked: Auto dealers often offer in-house financing. And when a person chooses that route, the dealer sends the buyer’s credit score and other loan risk factors to, in this case Toyota Motor Credit Corporation. The dealer learns the rates the buyer has qualified for, but then is allowed increase it, as the dealer sees fit. That inflated rate can translate into profit for the dealer. It’s usually a small amount—Toyota allowed its dealers to increase rates up to 2.5 percent. But that adds up over years of interest. The CFPB found that, when the dealer was allowed to decide which customers to charge more, people of color, regardless of th...

police brutality

Why do we still feign shock at police brutality and abuse of power? Because we hope that ingratiating ourselves to power will reward us, and fear that exposing its moral bankruptcy may harm us. ### See also: * Rodney King * Michael Brown * loose cigarette seller Eric Garner * 14-yo killed in NY * every peaceful protest ever * Nixon * subprime mortgage crisis * Savings and Loan crisis * bank bailouts in array[list years] * inflation * financial advisor scams * Bernie Madoff * Uber #powerbehavingbadly

Social safety net & why we need it

Or: Tightwad capitalism and its stranglehold on both social and economic progress Not everyone is destined to be an alpha overachiever. Even if they aspire to it, not everyone can be a CEO, or successful entrepreneur, doctor, lawyer, coding genius, etc. etc. So, what do "the rest of us" deserve?? How should resources be distributed? Do we all share a responsibility to give back in proportion to the benefits we’ve accrued from a robust public sector? Or is wealth on an endless snowball upwards towards less recently laboring capital and an endless downward spiral further into poverty on the other end of the continuum as the boot that expects you to be grateful digs its heels in sharper? And then the very real and troubling (and often igno...