Color and money : politics and prospects for community reinvestment in urban America /

Squires and O'Connor, sociologists by academic training, have written a case study of past systematic urban disinvestments and an emerging reinvestment movement in Milwaukee, Wisconsin, focusing primarily on mortgage and small business loans. Statistics reviewed indicate about half as many loans were issued to blacks and Hispanics as would be expected from their proportion of the population. The authors point out that statistical evidence does not confirm discrimination but does support the possibility. They do not present a complete evaluation of economic evidence but do offer many social observations. The authors also report that the pro-active loan programs have yielded positive results. Careful reading of the book yields clues that there may be many underlying social factors that account for the differences in loan rates among various groups (e.g., lack of understanding or information about the loans) rather than outright discrimination. Professionals who seek detailed information from census tract and financial institution reports on mortgages and small business loans may find the work helpful, but others may want more economic data on such variables as income distributions, wealth distribution, and market conditions such as mobility. A useful addition to urban studies collections, upper-division undergraduate through professional. E. C. Erickson California State University, Stanislaus

Despite heavy funding, political rhetoric, and legislation dedicated to equality in housing for America's citizens of all races, many cities are not meeting the needs of their communities. Here, Squires and O'Connor study this problem by looking closely at the workings of Milwaukee, using data available to them through the Home Mortgage Disclosure Act, New Opportunities for Home Ownership in Milwaukee, and several federal cases that resulted in large settlements with banks to insure equal standards. They recommend the practice of community lending sponsored by the underutilized Community Reinvestment Act of 1977, which encourages federally regulated depository institutions to meet the credit needs of the local communities that have chartered them. The authors' thorough investigation of the data and its implications presents a persuasive argument. Their book is highly recommended for public and academic libraries and specialized collections, as it is essential for the lay readers to have resources when unethical practices continue unabated despite society's ruling against them. Kevin Whalen, Life Instructors, New Providence, NJ (c) Copyright 2010. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.