It Wasn't Wall Street Greed, It Was Government-Imposed Lending Policies

It grieves me to hear even Sarah Palin stating that the mortgage meltdown and financial crisis is the result of "Wall Street greed and corruption." Nothing could be further from the truth. However, the truth is politically unfeasible. Once again, we can't tell the truth because it has racial ramifications, and any honest or open discussion on the subject is stricly verboten in our racially hyper-sensitive society.

The financial crisis was caused by the Democratic Party in general, and Barack Obama was a warrior in their cause: to end "redlining" of granting mortgages based on the ability to repay the loans. The Democrats forced banks and lending institutions to make many bad loans to poor people and minorities, just because the borrowers were poor and/or minorities. It was racial norming applied to the economy, like the racial norming liberals once applied to university admissions, i.e. accepting lower SAT scores from blacks and hispanics while requiring higher SAT scores from whites and asians.

Racial norming didn't work for university admissions - the unqualified still flunked out. It didn't work for mortgages either, as the financially unqualified couldn't repay and soon defaulted on the loans. Racial norming merely sets up the intended beneficiaries for failure, leaving the rest of us to clean up the mess. It's as if results don't matter, just the glorious symbolism of the intent.

This is the kind of racial norming/economically disasterous/income redistribution nonsense the Democrats will continue to impose on the country as soon as they are fully back in power -- and they are now headed towards electing the most leftwing president in American history who will, in all probability, have a filibuster-proof, leftwing Congress to back him up.

The Jawa Report has a great article today on the subprime mortgage mess and Barack Obama's hand in it.

The frustrating thing is this: many Americans simply don't know the truth about Obama because the mainstream media are openly, flagrantly and disgustingly biased in his favor. They absolutely will not report any of it.