Predatory Lending and the Destruction of the African-American Dream PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Predatory Lending and the Destruction of the African-American Dream PDF full book. Access full book title Predatory Lending and the Destruction of the African-American Dream by Janis Sarra. Download full books in PDF and EPUB format.
Author: Janis Sarra
Publisher: Cambridge University Press
ISBN: 1108853331
Category : Law
Languages : en
Pages : 329
Get Book
Book Description
Since the Great Recession of 2008, the racial wealth gap between black and white Americans has continued to widen. In Predatory Lending and the Destruction of the African-American Dream, Janis Sarra and Cheryl Wade detail the reasons for this failure by analyzing the economic exploitation of African Americans, with a focus on predatory practices in the home mortgage context. They also examine the failure of reform and litigation efforts ostensibly aimed at addressing this form of racial discrimination. This research, augmented by first-hand narratives, provides invaluable insight into the racial wealth gap by vividly illustrating the predation that targets African-American consumers and examining the intentionally obfuscating settlement terms of cases brought by the U.S. Department of Justice, states attorneys, and municipalities. The authors conclude by offering structural, systemic changes to address predatory practices. This important work should be read by anyone seeking to understand racial inequality in the United States.
Author: Janis Sarra
Publisher: Cambridge University Press
ISBN: 1108853331
Category : Law
Languages : en
Pages : 329
Get Book
Book Description
Since the Great Recession of 2008, the racial wealth gap between black and white Americans has continued to widen. In Predatory Lending and the Destruction of the African-American Dream, Janis Sarra and Cheryl Wade detail the reasons for this failure by analyzing the economic exploitation of African Americans, with a focus on predatory practices in the home mortgage context. They also examine the failure of reform and litigation efforts ostensibly aimed at addressing this form of racial discrimination. This research, augmented by first-hand narratives, provides invaluable insight into the racial wealth gap by vividly illustrating the predation that targets African-American consumers and examining the intentionally obfuscating settlement terms of cases brought by the U.S. Department of Justice, states attorneys, and municipalities. The authors conclude by offering structural, systemic changes to address predatory practices. This important work should be read by anyone seeking to understand racial inequality in the United States.
Author: Charles R. Geisst
Publisher:
ISBN: 9780815734321
Category : Business & Economics
Languages : en
Pages : 0
Get Book
Book Description
Predatory lending: A problem rooted in the past that continues today. Looking for an investment return that could exceed 500 percent annually; maybe even twice that much? Private, unregulated lending to high-risk borrowers is the answer, or at least it was in the United States for much of the period from the Civil War to the onset of the early decades of the twentieth century. Newspapers called the practice "loan sharking" because lenders employed the same ruthlessness as the great predators in the ocean. Slowly state and federal governments adopted laws and regulations curtailing the practice, but organized crime continued to operate much of the business. In the end, lending to high-margin investors contributed directly to the Wall Street crash of 1929. Loan Sharks is the first history of predatory lending in the United States. It traces the origins of modern consumer lending to such older practices as salary buying and hidden interest charges. Yet, as Geisst shows, no-holds barred loan sharking is not a thing of the past. Many current lending practices employed today by credit card companies, payday lenders, and providers of consumer loans would have been easily recognizable at the end of the nineteenth century. Geisst demonstrates the still prevalent custom of lenders charging high interest rates, especially to risky borrowers, despite attempts to control the practice by individual states. Usury and loan sharking have not disappeared a century and a half after the predatory practices first raised public concern.
Author: Pejman Habibie
Publisher: Taylor & Francis
ISBN: 1000930882
Category : Education
Languages : en
Pages : 275
Get Book
Book Description
This volume offers comprehensive examination of “predatory” practices in scholarly publishing, and highlights emergent issues around predatory journals, Open Access (OA), and scam conferences. Chapters engage multiple methodologies, including corpus, discourse, and genre analysis, as well as historical and autoethnographic approaches to offer in-depth, empirical analyses of the causes, practices, and implications of predatory practices for scholars. Contributors span a broad range of disciplines and geolocations, presenting a diverse range of perspectives. The volume also outlines effective initiatives for the identification of predatory practices and considers steps to increase understanding of viable publishing options. Providing a needed exploration of predatory research practices, this book will appeal to scholars and researchers with interests in higher education, publishing, and communication ethics.
Author: Richard Lord
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 248
Get Book
Book Description
Homeowners who can't borrow from banks have long turned to the subprime lending industry for mortgages. Increasingly, that industry has turned on them by charging outrageous fees and usurious interest, and then taking their homes through foreclosure. Richard Lord explores the spread of predatory lending practices. And it tells the stories of borrowers who've been taken, contractors and brokers who've been co-opted, lenders who've cheated--and the world's biggest financial titans, who've cashed in. A battle is taking shape that could determine whether home ownership for working people will be an achievable dream or an American nightmare. Richard Lord is a writer for the "Pittsburgh City Paper" whose work on subprime lending has won numerous awards.
Author: Chiara Fumagalli
Publisher: Cambridge University Press
ISBN: 1108546803
Category : Business & Economics
Languages : en
Pages : 651
Get Book
Book Description
The most controversial area in competition policy is that of exclusionary practices, where actions are taken by dominant firms to deter competitors from challenging their market positions. Economists have been struggling to explain such conduct and to guide policy-makers in designing sensible enforcement rules. In this book, authors Chiara Fumagalli, Massimo Motta, and Claudio Calcagno explore predatory pricing, rebates, exclusive dealing, tying, and vertical foreclosure, through a blend of theory and practice. They develop a general framework which builds on and extends existing economic theories, drawing upon case law, discussions of cases and other practical considerations to identify workable criteria that can guide competition authorities to assess exclusionary practices. Along with analyses of policy implications and insights applied to case studies, the book provides practitioners with non-technical discussions of the issues at hand, while guiding economics students with dedicated technical sections with rigorous formal models.
Author: Sal Arnuk
Publisher: FT Press
ISBN: 0132875268
Category : Business & Economics
Languages : en
Pages : 317
Get Book
Book Description
The markets have evolved at breakneck speed during the past decade, and change has accelerated dramatically since 2007's disastrous regulatory "reforms." An unrelenting focus on technology, hyper-short-term trading, speed, and volume has eclipsed sanity: markets have been hijacked by high-powered interests at the expense of investors and the entire capital-raising process. A small consortium of players is making billions by skimming and scalping unaware investors -- and, in so doing, they've transformed our markets from the world's envy into a barren wasteland of terror. Since these events began, Themis Trading's Joe Saluzzi and Sal Arnuk have offered an unwavering voice of reasoned dissent. Their small brokerage has stood up against the hijackers in every venue: their daily writings are now followed by investors, regulators, the media, and "Main Street" investors worldwide. Saluzzi and Arnuk don't take prisoners! Now, in Broken Markets, they explain how all this happened, who did it, what it means, and what's coming next. You'll understand the true implications of events ranging from the crash of 1987 to the "Flash Crash" -- and discover what it all means to you and your future. Warning: you will get angry (if you aren't already). But you'll know exactly why you're angry, who you're angry at, and what needs to be done!
Author: Deborah Goldstein
Publisher:
ISBN:
Category : Fraud
Languages : en
Pages : 90
Get Book
Book Description
Author: Charles R. Geisst
Publisher: University of Pennsylvania Press
ISBN: 0812207505
Category : Business & Economics
Languages : en
Pages : 396
Get Book
Book Description
The practice of charging interest on loans has been controversial since it was first mentioned in early recorded history. Lending is a powerful economic tool, vital to the development of society but it can also lead to disaster if left unregulated. Prohibitions against excessive interest, or usury, have been found in almost all societies since antiquity. Whether loans were made in kind or in cash, creditors often were accused of beggar-thy-neighbor exploitation when their lending terms put borrowers at risk of ruin. While the concept of usury reflects transcendent notions of fairness, its definition has varied over time and place: Roman law distinguished between simple and compound interest, the medieval church banned interest altogether, and even Adam Smith favored a ceiling on interest. But in spite of these limits, the advantages and temptations of lending prompted financial innovations from margin investing and adjustable-rate mortgages to credit cards and microlending. In Beggar Thy Neighbor, financial historian Charles R. Geisst tracks the changing perceptions of usury and debt from the time of Cicero to the most recent financial crises. This comprehensive economic history looks at humanity's attempts to curb the abuse of debt while reaping the benefits of credit. Beggar Thy Neighbor examines the major debt revolutions of the past, demonstrating that extensive leverage and debt were behind most financial market crashes from the Renaissance to the present day. Geisst argues that usury prohibitions, as part of the natural law tradition in Western and Islamic societies, continue to play a key role in banking regulation despite modern advances in finance. From the Roman Empire to the recent Dodd-Frank financial reforms, usury ceilings still occupy a central place in notions of free markets and economic justice.
Author: Gregory D. Squires
Publisher: Bloomsbury Publishing USA
ISBN: 0313067902
Category : Business & Economics
Languages : en
Pages : 249
Get Book
Book Description
The proverbial American dream of owning a home has become an all-too-real nightmare for a growing number of families. The most vulnerable segments of our society—including minorities, the elderly, and working families—are being victimized by financiers who lure them into commitments they cannot fulfill. Collectively known as predatory lending, these practices include offering higher interest rates than can be justified by the risk, high pre-payment penalties that lock families into exploitative loans, and monstrous balloon payments that often result in default and the loss of the home. The net result can be disastrous: damage to one's credit rating, bankruptcy, and even the loss of lifelong savings. Why the Poor Pay More is an incisive exposure of these practices: how they have evolved, why they have become so prevalent in recent years, and how their negative effects can be quantified. It features in-depth analysis from prominent scholars, legal experts, and community leaders, who shed new light on the social, political, and economic consequences of predatory lending. Why the Poor Pay More is much more than an indictment of these insidious discriminatory practices. It is a call to arms for anyone concerned about how the financial-political system can be corrupted to serve the needs of the wealthy. Highlighting community initiatives already underway to combat predatory lending and an extensive listing of practical resources, Why the Poor Pay More outlines active roles that individuals, advocacy groups, financial and legal service providers, and policymakers can play in reversing this destructive trend.
Author: Laura Katz Olson
Publisher: JHU Press
ISBN: 1421442868
Category : Medical
Languages : en
Pages : 440
Get Book
Book Description
Revealing the dark truth about the impact of predatory private equity firms on American health care. Won Gold from the Axiom Book Award in the Category of Business Ethics, the Benjamin Franklin Awards by the Independent Book Publishers Association and the North American Book Award in the Catergory of Business Finance, Finalist of the American Book Fest Best Book Social Change and Current Events by the American Book Fest Private equity (PE) firms pervade all aspects of our modern lives. Unlike other corporations, which generally manufacture products or provide services, they leverage considerable debt and other people's money to buy and sell businesses with the sole aim of earning supersized profits in the shortest time possible. With a voracious appetite and trillions of dollars at its disposal, the private equity industry is now buying everything from your opioid treatment center to that helicopter that helps swoop you up from a car crash site. It may even control how and when you can get your kidney dialysis. In Ethically Challenged, Laura Katz Olson describes how PE firms are gobbling up physician and dental practices; home care and hospice agencies; substance abuse, eating disorder, and autism services; urgent care facilities; and emergency medical transportation. With a sharp eye on cost and quality of care, Olson investigates the PE industry's impact on these essential services. She explains how PE firms pile up massive debt on their investment targets and how they bleed these enterprises with assorted fees and dividends for themselves. Throughout, she argues that public pension funds, which provide the preponderance of equity for PE buyouts, tend to ignore the pesky fact that their money may be undermining the very health care system their workers and retirees rely on. Weaving together insights from interviews with business owners and experts, newspaper articles, purchased data sets, and industry publications, Olson offers a unique perspective and appreciation of the significance of PE investments in health care. The first book to comprehensively address private equity and health care, Ethically Challenged raises the curtain on an industry notorious for its secrecy, exposing the nefarious side of its maneuvers.
