Republicans: Blame Minorities For The Finance Crisis

Daniel Gross had a scathing rebuke on Newsweek yesterday of those who would say that Freddie and Fannie are at fault for the credit crisis by way of Carter's Community Reinvestment Act — which would include not only the Wall Street Journal opinion pages that Gross cites, but also McCain in yesterday's debate — pointing out the factual errors in the logic as well as illuminating the racial undercurrents of the allegation.