Surprise: Predatory Lending Hits the Poorest Hardest

I mostly read magazines in bed and I have an on-again off-again relationship with The Nation. However, I spent a couple nights mulling over this disturbing story about what the mortgage crisis is doing to the black middle class.

Meanwhile, the papers here have been running congratulatory editorials because the conservatives finally got it together to enact some limitations on lending practices in Canada. In my estimation, they should be stricter, especially given the kinds of penalties lenders here are allowed to inflict on buyers so that we are more likely to not lock in our interest rates for too long.