Bank of America announced a program that will target specific communities in certain cities across the nation with zero-down, zero closing cost mortgages. This is being declared as racist by many conservative pundits, and it definitely is. But it's actually not racist for the reason most are saying and definitely IS racist for an even worse reason.

Reports coming from many pundits indicate the loans are only for Black and Hispanic borrowers. That's not true, but it's actually worse than that.