Jun 01 2010

Predatory Lending? No Such Thing!

Photo Credit: Occupyourhomes.org

Remember predatory lending? The deceptive and discriminatory lending practices that were a driving force behind the housing bubble and disastrous collapse? Well, CNBC would like you to forget about it. Critics pointed (CJR.org, 3/4/10) to a March 2 segment in which all assembled excoriated a guest for referring to the very idea. In a discussion which began with host Larry Kudlow suggesting that “this consumer protection thing” was “kind of a distraction,” financial consultant Janet Tavakoli mentioned that people had been “preyed upon,” which was greeted with general disbelief and dismissiveness. Anchor Melissa Francis scoffed: “The phrase ‘predatory lending’ always […]