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TIME - Man of the Year
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CompactPublishing-TimeMagazine-TimeManOfTheYear-Win31MSDOS.iso
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1993-04-08
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THE WEEK, Page 26SOCIETYEt Cetera
THE THIN RED LINE
Commercial banks and S&Ls confidently assure loan applicants
that under federal law, qualifying for a home mortgage isn't a
black-and-white issue -- it's green. Theoretically and legally,
the sole criterion is whether the borrower can repay the loan.
But a new nationwide survey by the Federal Reserve Board shows
that in 1991 banks denied home mortgages to 37% of all black
applicants but only 17% of whites. Sadly, income disparities
don't account for the gap. Even among the highest income
blacks, 23% of applicants were denied loans, vs. 9% for whites
of comparable income.
BRANDON'S FADE-OUT
The charmed career of Brandon Tartikoff -- at 43, head of
Paramount Pictures after leading NBC television to Cosby-esque
heights during the '80s -- has been shadowed by personal
calamity: two bouts with cancer and last year an auto accident
that grievously injured his 9-year-old daughter. The private
side has won out, as Tartikoff relinquished his Paramount post
last week to spend more time with his recuperating child. His
15-month reign included the rough seas of the plodding Columbus
epic 1492: Conquest of Paradise and the register-ringing
teen-twitter Wayne's World.