BlogWonks

I’ve written before about how The Community Reinvestment Act is really the root cause of this current financial crisis. This piece of  legislation  was created in order to drive mortgage lenders to make loans to poor minorities who couldn’t really afford to pay them back. Now Diane West eloquently takes up the subject and explains that race based social engineering is responsible for the havoc now plaguing our economy.

The conventional wisdom is that the economic crisis is the reason Sen. Barack Obama is up in the polls.

The conventional wisdom is wrong. Not about Obama being up in the polls, of course, but about why that is so. Obama is up in the polls not because of the economic crisis, but because the reason for the economic crisis, the festering root of it all that has twisted the U.S. financial system beyond recognition, is being ignored in our narrative-creating centers, from the mainstream media to Congress to the White House to the presidential candidates themselves.

Since Obama can only stay up in the polls as long as this all-important reason remains an unspoken, murky kind of secret, I can well understand his obvious inclination to change the subject.

The fact is, if American citizens become too widely acquainted with the fact that race-based social engineering virtually created the sub-prime mortgage industry that has transformed the U.S. economy into The Titanic, Obama will sink in the polls. That’s because race-based social engineering is what Obama both advanced as a so-called community organizer, and later funded as an official of Chicago’s Woods Fund, where he served alongside unrepentant terrorist and political ally William Ayers — another phantom political fact citizens now pondering their presidential votes are not supposed to consider.

But I digress. The question is, how exactly did the government overlay of race-based goals onto the real estate marketplace help create the sub-prime mortgage industry, which, having imploded, triggered the current economic crisis, and what did Obama have to do with it?

The answer goes back to one of those totalitarian drawing boards where social engineers draft their human havoc. Not “enough” minorities owned homes, the social engineers decided, because not “enough” minorities were eligible for mortgages, the social engineers concluded. Therefore, in the bean-counting name of what “should” be, the social engineers effectively junked all bottom-line, non-racial markers of mortgage eligibility, from steady employment and clean credit to the all-important down payment, that banks have traditionally relied on to determine the difference between a good and a bad credit risk. This paved the way for increasingly unconventional “sub prime” loans for all (including rubber-check-writing deadbeats, speculators and novices-in-over-their-heads of all races). The social engineers claimed victory for what they called “affordable housing” — which also paradoxically created a vast market of extremely unaffordable housing — but it was just a house of card!

s. The real estate bubble popped, the bad loans came crashing down, and the world markets came tumbling after.

I’d suggest you read the whole thing.  Race based social engineering is what Barack Obama is all about, and it’s what’s killing us right now. If people really understood that Barack Obama has been promulgating race based social engineering his entire career, and that it is the cause of the subprime meltdown,  people would rightly come to realize what an absolute disaster for this country Barack Obama would be as president, and how incredibly poor Obama’s judgement really is.

Roger Kimball also has an excellent post regarding how The Community Reinvestment Act led to the subprime meltdown. It’s well worth reading as well.