How the Democrats Killed Roosevelt’s Dream of the Affordable Home

Posted on Feb 17, 2011
By Robert Scheer

It’s the same the whole world over
It’s the poor what gets the blame
It’s the rich what gets the pleasure
Ain’t it all a bloomin’ shame?

That chorus of the nineteenth-century Cockney ditty “She Was Poor But She Was Honest,” detailing the travails of a poor lass whose life is ruined by the deflowering advances of a rich man, best captures the mainstream Republican response to the banking meltdown. Their defense has been to blame “bleeding-heart” liberals concerned for the poor for a debacle that occurred unmistakably on their watch, and in response to their antiregulatory ideology, but for which they shuddered to take responsibility.

The effort to shift blame from Wall Street moguls to the poor who took loans they could not afford, while illogical given the frenzy with which those loans were marketed, is also understandable as an act of political desperation. Blame those being swindled rather than the swindlers has been the mantra of America’s right wing bereft of any other explanation for the debacle that will allow them to continue their ways.