racism/PC had nothing to do with this. Banks were falling all over themselves to make these loans. Fannie and Freddie were actually in better shape than many others, because their standards were kept tighter.
You can’t blame this on minorities or political correctness, and bombing Iran won’t help, either. At some point, we’ve got to re-evaluate how we run our markets, because at this rate the Saudis and the Chinese will own everything we have.
Doesn’t do much good to have a totally free market when your national borders are irrelevant, and your country doesn’t own its own assets.
OH, but selling off our capital assets is called "foreign investment in America" and is a good thing, don'tcha know...
Why, if we can only sell off everything and become thralls to foreign-owned corporations, we'll be so prosperous you won't know what to do with it!
</sarc>
They already do. The only reason that Freddie and Fannie are being bailed out is to pay China and the Arab countries so they don't ditch the dollar entirely. We have mortgaged our entire future plus some abroad and the name of the game is to keep outgoing payments flowing while transferring all the risk to American taxpayers.