WASHINGTON — At the height of the 2008 economic collapse, then-New York Mayor Michael Bloomberg said that elimination of the discriminatory housing practice known as “redlining” was an instigator of the meltdown.
Bloomberg made the comment during a forum that year. The practice known as redlining was used to deny home loans to people living in certain neighborhoods, often based on race.
The comments are the latest to resurface in recent days that make him appear racially insensitive.
Bloomberg said Congress pressured banks to end redlining, which led to them "making more and more loans where the credit of the person buying the house wasn’t as good as you would like.”