How subprime borrowers shouldn't be blamed

Slate - The Subprime Good Guys

An article highlighting a niche industry of small for-profit and some not-for-profit sub-prime lenders that have been successful for years, and continue to be successful, lending to 'minorities and the poor' the very people the conservative analysis has blamed on the housing crisis. The housing crisis has been blamed on the Community Reinvestment Act forcing banks to lend to those not traditionally considered good risks, and then these loans (or, rather, the defaults on these loans) poisoning the system. A sterling refutation are the various successful lending institutions that are making loans to sub-prime borrowers but have very low delinquency and foreclosure rates. The trick? Being disciplined, not relying on securitization, not selling loans you know the borrower doesn't qualify for, not trying to maximize short-term profits.