host: how did that usually work, jerry hagstrom?est: since they had not yet paid for the 18 acres, i doubt that it could be considered collateral for the loan. if there was a problem, it would have gone back to the previous landowner. i can see why the bank would want other collateral, but it seems rather outrageous to put up 600 acres to take out a loan to buy 18 acres. i am sure that there were a racist actions by banks back in -- outrageous actions by banks back in that time. caller: i work with the very old black gentleman who tells me how his grandfather owned a farm on the eastern shore. but when one of his sons ran off with a caucasian woman and got married and they left, some not, after owning this farm for quite a long time, somehow, it got taken away. all of his four men -- foremen got killed. i'm glad this is happening. it brings to let the injustice thethe past -- to light injustice of the past which can be rectified or at least talked about and acknowledged. host: their right this -- they write that there is an upliftin

jerry hagstrom, thank you for being with us this morning. that [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2010] >> a number of live events are coming up today. about half an hour, admiral thad alan will brief efforts on the gulf. more is available on-line. you could watch live coverage of the coast guard field hearing into the deep water rise an accident from kenner, louisiana. that is on our website all day at c-span.org. steny hoyer will be at the center for american progress today and will talk about the economy and jobs for live coverage on cspan starts at 11:15 this morning. later, more economic analysis from the american enterprise institute as the host a discussion on the economic stimulus package and private spending live at 12:30 eastern. to get as to the bottom of the hour, a discussion on the refining industry here in the u.s. >> "washington journal" continues. host: let's begin with talking about the difference between what refineries do and what bp was doing in the

host: how did that usually work, jerry hagstrom? guest: since they had not yet paid for the 18 acres, i doubt that it could be considered collateral for the loan. if there was a problem, it would have gone back to the previous landowner. i can see why the bank would want other collateral, but it seems rather outrageous to put up 600 acres to take out a loan to buy 18 acres. i am sure that there were a racist actions by banks back in -- outrageous actions by banks back in that time. caller: i work with the very old black gentleman who tells me how his grandfather owned a farm on the eastern shore. but when one of his sons ran off with a caucasian woman and got married and they left, some not,fter owning this farm for quite a long time, somehow, it got taken away. all of his four men -- foremen got killed. i'm glad this is happening. it brings to let the injustice thethe past -- to light injustice of the past which can be rectified or at least talked about and acknowledged. host: their right this -- they write that there is an uplifti