By Edward
October 16, 2012 - 3:55pm
Yesterday, the ACLU filed suit against Morgan Stanley for fueling the production of predatory loans that targeted African-American borrowers.  The fallout from these loans continues to wreak havoc in communities across the nation, but in large segregated cities such as Detroit they have been devastating.

From the ACLU Blog of Rights:

Already suffering from the effect of job loss, Detroit quickly shot to the top of the list of areas most severely impacted by foreclosures in the years covered by this lawsuit. By the beginning of 2007, Detroit was number one of the 100 largest metropolitan areas with the highest foreclosure rates. In Detroit, one in 29 homes had foreclosure proceedings filed with foreclosure notices served on 260 homes each day. Nearly 45,000 homes stood vacant by 2008, creating virtual wastelands in Detroit.


Hear plaintiffs Rubbie McCoy's story:



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