New scapegoat for economic woes. Illegal aliens!!!

[Fuzz]

http://www.nypost.com/seven/09242008/postopinion/opedcolumnists/illegal_aliens__the_mortgage_mess_130482.htm

ILLEGAL ALIENS & THE MORTGAGE MESS

by none other than

Michelle Malkin

AS panicked politicians prepare to fork over $1 trillion in taxpayer funding to rescue Wall Street, they've fingered regulation, deregulation, Fannie Mae and Freddie Mac, the Community Reinvestment Act, Jimmy Carter, Bill Clinton, both Bushes, greedy banks, greedy borrowers, greedy short-sellers and minority-home-ownership promoters for blame.

But there's one villain that has slipped notice: how illegal immigration, crime-enabling banks and open-borders Bush policies fueled the mortgage crisis. It's no coincidence that the areas hardest hit by the foreclosure wave - Loudoun County, Va., California's Inland Empire, Stockton and San Joaquin Valley, and Las Vegas and Phoenix - also happen to be some of the nation's largest illegal alien sanctuaries. Half of the mortgages to Hispanics are subprime. A quarter of all those subprime loans are in default and foreclosure.

Regional reports across the country have decried the subprime meltdown's impact on illegal-immigrant "victims." A July report showed that in seven of the 10 metro areas with the highest foreclosure rates, Hispanics were at least one-third of the population; in two of those areas - Merced and Salinas-Monterey, Calif. - Hispanics comprised half the population. The National Council of La Raza and its Development Fund have received millions in federal funds to "counsel" their constituents on obtaining mortgages with little to no money down; the group almost succeeded in attaching a $10 million earmark for itself in one of the housing bills passed this spring.

For the last five years, I've reported on the rapidly expanding illegal-alien home-loan racket. The top banks clamoring for their handouts as their profits plummet, led by Wachovia and Bank of America, launched aggressive campaigns to woo illegal-alien homebuyers. The quasi-governmental Wisconsin Housing and Economic Development Authority guaranteed home loans to illegal immigrants.

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[magellan]

1. Michelle Malkin, Anchor Baby. Enough said. n/t

[marmar]

2. Various and sundry Reich wingers have been blaming undocumented immigrants for a while now.....

n/t

[Joe Chi Minh]

3. Who next? E.T.?

[Romulox]

4. Illegal Immigration is indeed an attack on Working Class Americans' standard of living.

And I recall well when BOA, among others, defiantly announced to the national media that they would extend credit to "undocumented aliens".

[mmonk]

5. New?

Fascists always have a scapegoat.