The subprime crisis was the largest regressive racial redistribution in US history

Evidence

The subprime mortgage crisis that exploded under Bush II constituted the largest regressive racial redistribution of resources to have occurred in U.S. history. It impoverished black and brown families at unprecedented rates (as well as many white families). As a result, over a couple of years the already huge gap between black and. white wealth more than doubled, as did the gap between whites and Latin@s. — Michael Omi, Howard Winant, Racial Formation in the United States, 216

Categorization

• SEED: A powerful concrete anchor for an essay on how supposedly race-neutral financial policy still redistributes along racial lines — bridges the racial-formation lens to economic history.
• XREF: Strengthens the vault’s existing claims that colorblind/neoliberal policy masks continuing racial stratification rather than ending it.
• corroborated: 2 independent passages support this claim — Michael Omi, Howard Winant, Racial Formation in the United States, 216