DFL Rep. Keith Ellison and the Congressional Black Caucus have sent a letter to GOP House Minority Leader John Boehner asking him if the entire Republican caucus agrees with GOP Rep. Michele Bachmann’s recent statements on the financial crisis and race. Bachmann basically blamed the recent financial crisis on loans “being made on the basis of race, and little else.” Roll Call (subscription required) says she made the comments during hearing held by the House Financial Services Committee:
Republicans, specifically Bachmann, focused on Clinton’s administration and its push to provide loans to low-income minorities as a key reason for the downfall of the housing market.
The Clinton administration turned Freddie and Fannie into a “semi-nationalized monopoly,” Bachmann argued. Specifically, that administration decided to make loans through the Community Reinvestment Act “on the basis of race and often on little else.” Backpedaling on the controversial comments, Bachmann later added that the law was “well-intentioned” because ensuring that minorities have access to housing is important.
Bachmann told the St. Cloud Times that it was an “unfair characterization” of her remarks. The folks at Dump Bachmann (who obviously don’t support Michele Bachmann) uploaded video so you can watch what she says for yourself here.
Bachmann may have to explain her comments tomorrow morning. She’s scheduled to appear on MSNBC’s Morning Joe at 7:30 Central. She is also scheduled to attend a debate with DFLer Elwyn Tinklenberg on Monday night.