Barry Obama, Devourer of Lenders

Jerry Bowyer, over at Renoo Amiraka, assures us that Barak Obama, a Muslim terrorist pretending to be a white man pretending to be a black man, through his work to promote fair lending, single-handedly caused the subprime lending crisis. Apparently, if lenders had been allowed to use racial and geographical discrimination when giving out bad loans, things would have been fine. Way to go, Lefties! Anti-discrimination is inherently anti-capitalist, and this is all your fault.

I worked for a major subprime lender about eight years ago. I've honestly been predicting this turn of events since. We were encouraged... no, required by quota to push mortgages on people who had no business taking them, at adjustable rates that were, by any reasonable measure, absolutely usurious even then. We were instructed to inform the borrower that adjustable rate mortgages were unlikely to ever go very high, and even if they did, they could always refinance. This was national company policy, and I quit the job because my conscience couldn't take it. It had exactly jack shit to do with fair lending.

Why should you take Jerry Bowyer's word for it, though? Apparently because he wrote this book five years ago:

The Bush Boom: How a Misunderestimated President Fixed a Broken Economy
Well, hell. I'm sold.