A good primer compiling numerous resources on the cause of the 2008 financial collapse. Short version: Just because Republicans decided everything was the fault of blacks and the gubmint doesn’t mean anybody has to take it seriously. Just like invading Iraq after 9/11, they decided that the best thing to do was blame the people they already hated, so they came up with whatever it took to paint that picture, even if it meant leaving out virtually the entire story of what really happened.
Regardless of whether or not Republicans are racists or just generally bullshitters and assholes, the fact is that we as a country really have to stop giving them any credibility until we see real proof. Over and over and over again Republicans make grave pronouncements and intimations of irrefutable fact, and just as often we find out that not only are they wrong, but easily verifiably wrong by the most basic empirical standards. And their mistakes are rarely harmless. We elected them back into office in 2010 without ever holding them accountable for 2008. We didn’t even expect them to know what happened in 2008, instead we listened to their fabulous fibbing yet again. And how successful can a repairman be if he doesn’t understand what’s broken? As could only be expected, they only did further economic damage to the country, directly destroying jobs, damaging our credit rating, and taking us to the bring of economic Armageddon (just to prevent tax increases on the rich, mind you).
No party that cannot come to terms with our predicament and what caused it can be trusted to lead, period.