It was the perfect story: our country is suffering economically and someone has to be responsible for it. Oh yeah, our misery is due to the Community Reinvestment Act (of 1977) whereby Dimmocrats tried to help out poor people get loans they couldn’t afford. [You haven’t heard that one, I am betting…].
The only problem was, that while the above story was good, everyone knows that liberal democrats are bent on bankrupting this great nation, it was not quite perfect. Conservative talk-radio host, Roger Hedgecock (love that name), helped make the story perfect. The subprime mortgage mess was due to the fact that 5 million illegal immigrants held bad mortgages in the United States. Hedgecock’s source was none other than the U.S. Department of Housing and Urban Development.
Of course the only problem with this perfect, well nearly perfect story, is that it is not true.
This story went viral on conservative news outlets and was repeated by Matt Drudge, Michelle Malkin (who termed the problem “the massive illegal alien racket”), and Rush Limbaugh.
This wild assertion does not even pass the “nonsense test”. In order to get a mortgage loan one has to have 1) a credit history and 2) pay taxes in the U.S. of A. – things that illegal immigrants don’t usually have or do.
Read more here.