George W. Bush: the master spirit of subprime mortgages

Correcting Ann Coulter’s article that lays the whole situation at the feet of the Democrats, a reader sends a speech by President Bush in 2002 in which he lauded the efforts to expand home ownership among blacks and Hispanics by knocking down “barriers” to minority home ownership. These “barriers,” of course, were simply the standard measures of creditworthiness that had always been operative in this country, prior to the metastasis of the left-liberal ideology, fully shared by Busherino himself, which says that any absence of equality of outcome among different racial groups is due to racial discrimination, rather than to inherent racial or cultural differences.

The Compassionate One spake:

More and more people own their homes in America today. Two-thirds of all Americans own their homes, yet we have a problem here in America because few than half of the Hispanics and half the African Americans own the home. That’s a homeownership gap. It’s a—it’s a gap that we’ve got to work together to close for the good of our country, for the sake of a more hopeful future. We’ve got to work to knock down the barriers that have created a homeownership gap.

So, in a fantastic irony that could only happen in late liberal society, liberals are attacking Bush’s supposed patronage of his greedy capitalist pals as the cause of the disaster, when in reality Bush was fully onboard the racial egalitarian project that was the true cause of the disaster, or at least its principal cause. But Bush’s establishment conservative allies can’t defend him from that false charge. What are they going to say? “It’s not true that Bush caused this disaster by helping his greedy rich friends. He caused it by pushing his rich greedy friends to abandon proper credit standards in order to give mortgages to improvident blacks and Hispanics who were unable to pay them off, all for the purpose of creating racial equality of outcome in America”? They can’t say this, because their entire empire is built on the conceit that Bush is a conservative.

Posted by Lawrence Auster at September 25, 2008 01:03 PM | Send