Monday, February 23, 2009
By the Way / Hannan / The Economy The Credit Crisis: Now With Pretty Pictures
Posted by Caleb Hannan on Mon, Feb 23, 2009 at 12:21 PM
The financial mess is confusing. Thankfully, someone took the time to explain it (with the help of flashy visual aids!). Oddly enough: Not one mention of the negroes. That's how you know it wasn't made by a nutbag.
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serious question for hannan, kotz, et al-
is it ideologically possible in your eyes for an american black person to be solely 100% culpable for doing a wrong thing?
Sure they can, alum, but blaming them for the credit crisis is so utterly ridiculous this had to be called. If you look back on the lending crisis, much of it started in urban black neighborhoods, then moved to suburban white neighborhoods. The government is to blame for both a lack of regulation and buying bankers' arguments that everything was above board.
But when you get right down to it, bankers acting stupidly, greedily --and in many cases criminally--remains far and away the center of the crisis. In this case, I think the right is just trying to justify their faith in the vaunted private sector. To acknowledge their culpability is to admit their faith was violated, so they're looking far and wide for straw men, and finding them in the most intellectually dishonest places.
