The Biden administration’s efforts to provide $4 billion in debt relief to minority farmers is encountering stiff resistance from banks, which are complaining that the government initiative to pay off the loans of borrowers who have faced decades of financial discrimination will cut into their profits and hurt investors.
Yup, you read that right. these are the same banks that have made millions on the backs of Black and minority farmers with predatory loans for decades. Don’t tell me racism doesn’t exist, and don’t tell me the free market is fair to everyone.
I voted for this administration to do things just like this. I hope they write some big fat checks and let the banks suck on it.