Barney Frank Breaks It Down: Who really caused the credit crisis?

The Wall Street Journal reports:

Barney Frank has found another cause for the credit panic: racist Republicans. "They get to take things out on poor people," the House Financial Services Chairman said at a Boston symposium Monday. "Let's be honest: The fact that some of the poor people are black doesn't hurt them either, from their standpoint."

We think it might be racist to encourage members of minority communities to buy houses they couldn't afford because they couldn't put down enough of a down payment.