Barney Frank: Blaming the CRA? RACIST!

Politics: The last defense of a fool.

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.”

and the aim to help poor people meant putting Fannie Mae and Freddie Mac in a position to open themselves up to bad loans that are a part of this economic meltdown. But for Dems and other race hustlers this is racist.