Latest Liberal Meme: Conservatives Hate Minorities

Well, ok, that's not a new one. We hear that about everything from taxation to abortion to education to business regulation. It's always about how much conservatives hate minorities and blame them for everything. In this post titled Them Damn Minorities!, Echidne claims that pointing out how the Community Reinvestment Act is at the heart of the subprime mortgage mess is just more code language about minorities.

That's the new Conservative meme about the secret real reason for the financial markets crisis. Yup. It's the Community Reinvestment Act that caused it, forcing banks to lend to minorities(.)

In a previous post, I've got the video that shows the connections between the current mess and the CRA. Subprime mortgage lending took off in the 1990s--you know, during the Clinton administration?--when lenders were forced to approve more and more loans to people who couldn't afford them.

Nowhere in that statement is mention of minorities. Now, Echidne might be referring to the "no I.D. needed" loans which were obviously targetted at illegal aliens. Why else would a person not have I.D., right? But then, I keep forgetting that pointing out that illegal aliens shouldn't be buying houses here is racist, at least according to Orrin Judd at Brothers Judd blog (Orrin currently is busy tying racism to the House GOP rejection of the huge bailout bill that was opposed by the vast majority of Americans).

Echidne then pulls a quote that most subprime mortgages--the ones that failed--were to white people. Because, you know, that makes a difference in how many mortgages failed, I guess.