Let's just first rewrite the last sentence; banks bamboozled lower middle class families to believe in the American Dream of home ownership and swindled them into unsustainable Adjustable Rate Mortgages or other bad loans.
[Hispanics now make up the largest group of children living in poverty, the first time in U.S. history that poor white kids have been outnumbered by poor children of another race or ethnicity, according to a new study.
In a report released Wednesday, the Pew Hispanic Center said that 6.1 million Hispanic children are poor, compared with 5 million non-Hispanic white children and 4.4 million black children. Pew said Hispanic poverty numbers have soared because of the impact of the recession on the growing number of Latinos.
The rise in childhood poverty is another signal of distress for the nation’s 50.5 million Hispanics, who have been hit harder by the bleak economy than any other group. They have one of the highest unemployment rates and saw their household wealth decline more steeply than either blacks or whites, largely because so many lost their houses to foreclosure.] emphasis added