Sadly, March 7, 2009, marked the 15th anniversary for California's draconian Three Strikes and You're Out law. Fifteen years is one and a half decades, 180 months or 5,475 days. No matter how you calculate it, 15 years is too long for non-violent humans to be "incapacitated" for petty, non-serious and victimless crimes.
As the foreclosure crisis worsens, the Federal Reserve Board (the Fed) is proposing rules to restrict abusive mortgage lending practices. While this is a good step, 32 California groups assert that not enough is being done to help working families and their neighborhoods, encouraging stronger rules to protect families from being sold loans they cannot afford.
The subprime mortgage crisis will cause African-Americans to experience wealth losses of between $71 billion and $122 billion over its duration.