Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America Highlight

“The cause of the financial crisis,” he says, “was quite simply the commitment by the United States government to bring home ownership to the next group of people who previously had not been able to own their own homes.” There it is. The financial crisis, you see, had nothing to do with huge aggrandized financial institutions borrowing vast fuckloads of money and gambling it all away, knowing that the government would have to swoop in and rescue them if they failed. No, what sank the economy was poor black people who were pushed into buying houses they couldn’t afford by the government.