Since the whole racist thing has worked so well for Obama, Frank takes it for a spin.
Frank charged that conservatives aim to shift blame for the market meltdown away from Wall Street and toward minority-lending laws like the federal Community Reinvestment Act.
“The bizarre notion that the Community Reinvestment Act . . . somehow is the cause of the whole problem, (conservatives) don’t mind that,” the lawmaker said. “They’re aware that the affordable-housing goals of Fannie Mae and Freddie Mac (and) the Community Reinvestment Act (aim to help) poor people. And let’s be honest, the fact that some poor people are black doesn’t hurt either from their standpoint.”
Nobody does race-baiting better than the Democrats.
PS – So you have the CRA, the aim of which is to help “poor people” purchase homes. Poor people, by definition, don’t have a lot of money. Owning a house involves a lot of money. So you get people into houses that you know they couldn’t afford, then said home gets snatched away from them when reality sets in. Doesn’t that sound a bit, well, cruel? Why would you want to put those people in that position in the first place?
