Kang (Revised)

A previous credit score so low that it crashed the world economy in 2008 when Countrywide made thousands of risky loans to Kangs of color. These loans were complete garbage and nobody wanted to touch them in their investment portfolio, so rating companies like S&P, Moody's and Fitch all collaborated to give these Kang loans a fake higher score. These loans caused rolling defaults when the Kangs of color predictably defaulted on them. This caused the entire system to collapse and were it not for the government stepping in, the Kangs would have destroyed the world financial system.

It's 2023 and the Kangs are back. After years of printing money and then later trying to raise interest rates to control the out-of-control inflation, the US government is realizing the asset bubble they created is leaving behind the Kangs who can't afford property. The Kangs of color don't pay their mortgages but there's a new scheme to shoulder the burden on the responsible white people. It's not enough that the banks and government make AAA-rated reliable money on white mortgage payers, they're now going to put a Kang tax on all mortgage payers with a credit score of over 750. This is a risk-avoidance scheme to punish whites further and to prop up the Kangs of color.

When the Kangs default on their mortgages, the banks will just reclaim the property and sell it at a profit to whites. All the while they'll still be collecting the higher mortgage Kang tax from the whites as well.