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  • Subprime Communities: Reverse Redlining, the Fair Housing Act and Emerging Issues in Litigation Regarding the Subprime Mortgage Crisis

    As the nation struggles to find its bearings in the current financial crisis and venerable pillars of Wall Street crumble, hundreds of billions of dollars will be spent to shore up the financial system and re-capitalize credit markets. The spark that lit the blaze was the collapse of the subprime mortgage market, a daisy chain of inflated assets, speculative fervor, investor exuberance and unregulated and unchecked excess. While the eyes of Washington are directed toward Wall Street, there is much talk of the need to prop up Main Street as well, and nowhere is this more apparent than in communities and neighborhoods across the United States that have felt the first wave of the financial crisis hit: home upon home of foreclosed properties, abandoned and neglected, their hollow silence hard to ignore.