Somewhere, Someone is Already Saying, "Racist!"

A new book out, "Architects of Ruin" will undoubtedly draw criticism as a "racist" book. Why? Because it points out that lending to unqualified minority home buyers, individuals who normally couldn't get loans, helped lead to the housing bubble bursting. Mind you, all of his suppositions are supported by hard data from recent studies, including studies showing there was no real evidence of racism in lending.

Of special note is how liberal activists pressured lenders to loosen their normal lending standards to give loans to minority people who might not normally qualify. My question is, who is surprised if someone not generally considered a good risk takes out a loan and then doesn't pay it back?

The author, Peter Schweizer, posted an excellent overview of the book on the Power Line blog. In his overview, Schweizer points out that, "The real culprits [of the housing bubble] are the social activists and their allies in Washington who pushed an activist agenda. They helped to propel us into the mortgage crisis we face today."

Definitely recommended reading.