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Reply to "Now The Housing Crisis Is The Fault of "African Americans""

This is where the American Short Term Memory (or the Orwellian Memory Hole) shines.

 

 

This explanation has seen many different forms and has been shot down in every incarnation.  It is, however, a hustle of language that looks to appeal to the responsible and prudent individual  while taking complete focus off of the other part of the equation (the institution that actually grants the loan).

 

For people who do not buy into this frame, and have no fear of questioning the entire system- its easy to intellectually K.O. anyone who raises this garbage, starting with the amount of people who qualified for non sub prime loans yet where steered right into them.  Of course to understand why that would ever happen, you can either be satisfied with blaming the conservatives, or we can begin to examine the economic system that depends on perpetual compound rates of growth.

 

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