Latina Lista: Conservatives who blame minorities for economic meltdown should get their facts straight

Latina Lista

Conservatives who blame minorities for economic meltdown should get their facts straight

Unfortunately, when looking at what caused this mess — the granting of subprime mortgages — conservative politicians and commentators are running to blame Latinos and blacks for the financial meltdown.

According to them, if it wasn’t for the fact that Latinos and blacks qualified for home loans under the Community Reinvestment Act (CRA), which was specifically set up to grant loans to people who have historically been denied homeownership, then none of this would have happened.

Well, only in a conservative’s world where people of color are made the easy scapegoats for what goes wrong in this nation, can this be true. When time is taken to look at the facts, the truth emerges and it’s a whole lot different than what conservative pundits are saying or want us all to believe.

Where’s the logic in blaming poor people for the excesses and greed of the rich and elite?

John Taylor, president and chief executive of the National Community Reinvestment Coalition, an umbrella group that promotes access to credit and affordable housing, said such claims “are on the level of Swift boat advertisements, except they are even less factual.””People who are saying this don’t understand lending, but they sure do understand the political process,” he said. “They are trying to blame the victim, which is an old strategy that moneyed corporate interests always employ.”

Profit, he said, was the motive.

We can only wonder what the motive is for these conservatives to cast this hateful and racist blame. The very people they are blaming are the ones hurting the most and losing the homes they have poured their heart, sweat and hopes into.


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