- The Washington Times - Sunday, July 27, 2008

ANALYSIS/OPINION:

Thomas Sowell’s masterful “Bankrupt ‘exploiters’” (Commentary, Thursday) notes that while the New York Times has editorialized and blamed “lucrative lending practices” of banks for creating the current mortgage crisis, the real cause is the congressional interference with the mortgage market. Since financial institutions would not make risky loans in poor neighborhoods, and since such neighborhoods were mostly black, the practice became known a “redlining.” It became a racial issue. Congress passed laws forcing lenders to lend to people they would not otherwise lend to, regardless of their race. It was affirmative action with good intentions, but it defied economic reality.

However, the ultimate affirmative action is in the media swoon over Sen. Barack Obama’s candidacy. While the TV networks sent their star anchors to accompany the candidate on his overseas trip, there was often just one lonely reporter to greet Sen. John McCain on the tarmac while campaigning.

ALI F. SEVIN

Fort Washington

LOAD COMMENTS ()

 

Click to Read More

Click to Hide