Sunday, September 26, 2010

Who's to blame for all the foreclosures?

In knee-jerk fashion, liberals blame everything on business practices. If minorities are less likely to have home mortgages, racist lenders are to blame. If lending is too generous, and minorities get loans they cannot repay, mortgage companies are predators.

Fortunately, Americans aren't falling for the BS. According to Rasmussen, only 20 percent--liberal kool-aid drinkers, I'm sure--believe that current home foreclosures are due to unfair lending practices. Fifty-nine percent believe the problem is that people chose to get loans they couldn't afford. Once again, we see the gulf between elites and ordinary folks. I see that Rasmussen did not offer "lenders were encouraged by government to make risky loans to low-income people" as an answer-choice.

UPDATE: I missed this shocker:
Blacks by a two-to-one margin over whites are more inclined to think unfair lending practices are the reason for bank foreclosures.

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