Attention Wingnuttia - About Those Fannie/Freddie Attacks...

by David Sirota [courtesy of Open Left - Front Page]

When I appeared on Fox News earlier this week, the National Review's Rich Lowry regurgitated the right-wing's newest talking point about the financial crisis supposedly being caused by Democrats' refusal to regulate Fannie Mae and Freddie Mac. I, of course, said that was utter bullshit and that the crisis was caused by the private companies. But he and the rest of Wingnuttia doesn't have to believe me - here's McClatchy today:

WASHINGTON - As the economy worsens and Election Day approaches, a conservative campaign that blames the global financial crisis on a government push to make housing more affordable to lower-class Americans has taken off on talk radio and e-mail...

Federal housing data reveal that the charges aren't true, and that the private sector, not the government or government-backed companies, was behind the soaring subprime lending at the core of the crisis.

Facts are persistent things, aren't they? (h/t Atrios)

Update (Chris): The McCain campaign has joined in the conservative claim that the financial crisis was caused by banks being bullied by the diversity policie into giving loans to minorities. From the McCain campaign website:

The ad highlights Barack Obama's involvement with ACORN, a group now accused of widespread voter fraud across the country and accused of advocating for the very type of home loans that have led to today's financial crisis.

Conservatives claim that diversity caused the financial crisis. John McCain agress. It ain't just the crowds at McCain events, people.