Rep. Bachmann Blames Mortgage Crisis On Rules Designed To Help Minorities

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Minnesota 6th District Congresswoman Michele Bachmann is placing the blame for the current mortgage crisis on actions by the Clinton administration 15 years ago.


At a hearing Thursday she read portions of a story by Investors’ Business Daily’s Terry Jones which said the rules were written to allow more lending to minorities. (CSPAN video clip to right)


“Loans started being made on the basis of race, and often little else.” said Bachmann reading from the article.


Earlier this week Bachmann told MPR “too much government intervention” was to blame for the nation’s financial crisis


Democrats Respond

DFL Spokesman Eric Fought said “Bachmann owes the people of Minnesota, especially her Sixth District constituents, an apology. At a time of great economic crisis, Minnesotans look to their elected officials to lead the charge, finding solutions. Instead, Bachmann has let us down once again.”


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