Hi Anuj,
The data that I was referring to is in this NPR story http://www.npr.org/2013/05/06/181601018/black-and-latino-wealth-falls-further-behind . To be clear no, I was not suggesting poor people should sit out of the credit system but was talking more about ways people find their own solutions when doors are closed to them. I do think more member ownership and local control is where we should be heading. While not member owned, smaller community banks in New Hampshire generally weathered the recession and mortgage crisis well because they weren't invested in the toxic products that spurred the crisis and depended on the local and regional economy which did better than some parts of the U.S. over the past several years. The bigger issue is wealth inequality in the U.S. which obviously touches most of the issues in this string.
Bill
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