The start of the next housing crisis brought to you by Team Obama.

Remember how the last housing crisis started. The one from which we still have not recovered?  The one that almost destroyed America’s economy?  Failing to wipe us out the first time, the Left is going to do it again.  Same play, different players.

Standing in for the Community Reinvestment Act (which forced banks to lend to people who could not afford a mortgage), the Consumer Finance Protection Bureau is going to force banks to lend to people who cannot afford a mortgage AS LONG AS THEY ARE BLACK OR BROWN.   According to Thomas Perez, the Justice Department honcho in charge of this campaign, banks refusal to lend money to people of color who can’t pay it back is like burning a cross on their lawn.

To make sure that the banks don’t try the disreputable trick of claiming that the people of color who can’t afford a mortgage have demonstrated that they don’t pay their bills,  the Consumer Finance Protection Bureau is going to be regulating the credit rating agencies.  They have determined that it’s going to be government policy to have one rating system for whites and another for blacks and browns.  You can bet the ranch that rating agencies will suddenly find that being behind on your car payment, your credit card payment, your electric bill, and your rent payment makes you a good credit risk if your skin is the right color.

That’s a quick summary of And You Thought the Housing CrisisWas Over! By William Tucker.  His concern is that an economy already weakened by the first housing crisis and a government that is hostile to private industry will not survive another attack by the Left.  “I think what we are witnessing is the looting of America on behalf of minorities in a way that better end soon or we are going to bring the whole system down upon our heads.”  I think his fear is well-placed.

Thanks to Kate at small dead animals