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.”
Ed:
Let’s keep score. Criticizing Obama means we’re racists. Criticizing Congress means we’re racists. Getting angry at Congress for pushing Fannie Mae and Freddie Mac into buying bad loans and infecting the entire financial system with essentially fraudulent paper ” at a cost of up to $700 billion in taxpayer money and potentially trillions in lost investments ” means we’re racists.
Other blogging:
- Obama/Ayers: Palin DID handle that well! | The Anchoress
- skewred.com » Barney Franked Fannie exec ” now in CYA mode
- Don’t Dare Question Barney Frank
- Right Angles » Blog Archive » It’s official: Criticizing liberals and Democrats is racist
- Radio Vice Online » Why The Republicans Backed Down On Fannie Mae
- On the Right
- Leaning Straight Up
- Frank: Criticism of Congress is now racist, too – Southern Maryland Community Forums
- GayPatriot » Has Barney Frank No Shame?
- Public Secrets
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