This isn't especially new and original, but I hadn't quite thought of it this way before. It was quite the triumph of conservative propaganda to convince people that the housing bubble was, once again, about poor minorities getting more than they deserved.
It is pretty remarkable, isn't it? I'm routinely impressed by the creativity of conservatives when it comes to stuff like this. It would never occur to me to blame the financial crisis on a piece of legislation designed to help low-income home buyers, especially one passed 30 years ago, but they got right on it. They come up with stuff like this all the time, and it's pretty damn brilliant.