Obama's Moral Capitalism: Resuscitating the American Dream

30 Pages Posted: 24 Mar 2010  

Mitchell F. Crusto

Loyola University New Orleans College of Law

Date Written: 2009

Abstract

Fairness is a fundamental principle of American culture. Is it also a constitutional principle to redress economic oppression? Simply, does the U.S. Constitution protect its citizens from predatory lending practices? Will President Obama's call for empathy in constitutional jurisprudence protect America's middle and under-privileged classes from class discrimination?

This Article challenges the fairness of subjecting certain borrowers to overreaching, economically-oppressive lending practices. This seminal approach to the issue of predatory lending explores how established constitutional principles might protect and redress past, present, and future predatory lending victims, often socially and economically disadvantaged citizens. It seeks to define a novel constitutional theory, hereinafter entitled "moral capitalism," guaranteeing freedom from economic oppression and ensuring financial fair dealing. It concludes that class is the civil-rights' issue of the twenty-first century.

Keywords: President Obama, moral capitalism, predatory lending victims, economic oppression, capitalism, middle class, under-privileged, predation, subprime mortgages, war on the middle class, predatory capitalism

Suggested Citation

Crusto, Mitchell F., Obama's Moral Capitalism: Resuscitating the American Dream (2009). University of Miami Law Review, Vol. 63, No. 1011, 2009. Available at SSRN: https://ssrn.com/abstract=1573770

Mitchell F. Crusto (Contact Author)

Loyola University New Orleans College of Law ( email )

7214 St. Charles Ave.
Campus Box 901
New Orleans, LA 70118
United States
504-861-5743 (Phone)

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