“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.”
Ironically, Frank is using the same phony accusations of racism to defend himself that contributed to the problem in the first place. The CRA was used as a bludgeon to intimidate bankers with charges of racism corporately and personally if they didn't toe the line and lend to unqualified borrowers. Now that the house of cards has collapsed, it's also racist to point out the obvious.
I for one have reached my breaking point with this nonsense. For years Democrats have been ascribing vile racist (sexist, homophobic etc.) motives to anyone that dares to disagree with their policies. That childish, condescending and intellectually bankrupt tactic has now almost bankrupted the country. And it's still being used by the Obama campaign and his propagandists in the press.
It's a shame that more blacks are not outraged by the notion that they can't and shouldn't be held to the same standards as everyone else. Although it must be hard when racists like Frank are constantly telling you that all your problems are due to (imaginary) bigotry that only they can protect you from.
I don't and wont treat any adult like an infant just to spare myself from baseless and reprehensible charges of racism that only reveal a vacant argument.
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