Mon, 08/29/2011 - 15:48
What Mark Steyn wrote on this topic is old news. The US federal government really rubbed the banks noses in the dirt. We had US Democrats blaming the mess on free markets, which is quite a stretch. They mandated toxic mortgages, then created a free market in selling them. They were bundled and sold to investors worldwide. The Community Reinvestment Act was based on flawed studies alleging racism in mortgage lending
This is what happens when politicians fear being called racists. They advocate or go along with this crap.
US politicians, particularly Democrats, have reveled in exploiting racism for so many decades. In the South, they created Jim Crow laws that mandated separation in public facilities. Once that ended, they became the strongest advocates of affirmative action. A number of country club Republicans have gone along with this.
When will it ever end?
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