Big Tent Democrat over at Talk Left points out that a dog whistle is starting to call the racists to the trough of blame.
Investor's Business Daily OpEd 9/15(segment shown below)
But it was the Clinton administration, obsessed with multiculturalism, that dictated where mortgage lenders could lend, and originally helped create the market for the high-risk subprime loans now infecting like a retrovirus the balance sheets of many of Wall Street's most revered institutions.
Tough new regulations forced lenders into high-risk areas where they had no choice but to lower lending standards to make the loans that sound business practices had previously guarded against making. It was either that or face stiff government penalties.
The untold story in this whole national crisis is that President Clinton put on steroids the Community Redevelopment Act, a well-intended Carter-era law designed to encourage minority homeownership. And in so doing, he helped create the market for the risky subprime loans that he and Democrats now decry as not only greedy but "predatory."
Let's look at the truth.
Barney Frank responds that the banks covered by the Community Redevelopment Act did not make these bad loans.
This racist nonsense is being spread and repeated. Even Howard Fineman repeated it. Be sure and decry the racism and especially the FALSEHOOD whenever you find it.