Great article from Orson Scott Card, noted sci-fi and political author, on the current financial “crisis” and how the media turns a blind eye, these days, to the truth, in favor of supporting their political candidate.

This housing crisis didn’t come out of nowhere. It was not a vague emanation of the evil Bush administration.

It was a direct result of the political decision, back in the late 1990s, to loosen the rules of lending so that home loans would be more accessible to poor people. Fannie Mae and Freddie Mac were authorized to approve risky loans.

What is a risky loan? It’s a loan that the recipient is likely not to be able to repay.

The goal of this rule change was to help the poor — which especially would help members of minority groups. But how does it help these people to give them a loan that they can’t repay? They get into a house, yes, but when they can’t make the payments, they lose the house — along with their credit rating.

They end up worse off than before.

When Pelosi tried to lay the blame a Bush’s feet, did they call her on it? Of course not. When Barack tries to blame it on the Republicans, do they call him on it? Of course not. They have no credibility. They’re dangerously close to being a joke. It’s sad, really.

Read the entire piece here.