October 19, 2007 (LPAC)--San Francisco Chronicle staff writer Kelly Zito wrote, today, "Oakland officials and advocacy groups announced a set of resources and legislative initiatives Thursday aimed at fighting the subprime mortgage mess. The move... also marks another attempt by Oakland officials to curtail what they see as widespread predatory lending practices affecting many lower-income, and minority residents."

While this certainly shows a recognition of the grim reality, the issue is not predatory lending practices, therefore, any local-based approach will not function. Systemic crises, require, systemic solutions.

This slug was submitted by Michael Moberg, an LPAC supporter and member in San Francisco, CA.