That’s how Professor Tom DiLorenzo explains the origins of the financial crisis. Read his thoughts here.
He’s absolutely right. Left-wing activists are forever looking for issues, which they need like a shark needs to keep swimming. Their favorites are “gap” issues — that is, a problem exists whenever there is a statistical difference between the results of any two groups of people. In this case, the gap was between white and minority home ownership rates. The egalitarians jumped on that and rode it for all it was worth, getting laws passed to compel banks to do more home loans with “minority” borrowers.
Key point: the egalitarians don’t try to accomplish their visions through voluntary means, using their own resources. They employ the coercion of the state. As a result, all of us will now have to bear the costs of their crackpot ideas.