A piece discussing the reduced access to credit for low and moderate income households is headlined: “The Democratization of Credit is Over.” The article is a reasonable discussion of the issues involved although it never mentions the fact that the loss of home equity from the collapse of the housing bubble is a major factor reducing access to credit among moderate income households.

–Dean Baker

Dean Baker is senior economist at the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, including Rigged: How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer. Read more about Dean.