Are the Negroes responsible for the state of the economy?

I keep hearing whispers that the real reason the economy is failing is because banks were forced to give home loans to minorities who, on balance, have worse credit ratings. I've never subscribed to the nasty subprime lender theory. People have to be responsible when they sign their names. The basic street knowledge says that if some dude is promising you a house and you don't have to put anything into it, there's a scam in their somewhere. Still, this "the niggers did it" theory doesn't pass the smell test for me. I generally distrust singular theories, and I especially distrust singular theories coming from people with an axe to grind. There is a subset of conservatism that doesn't just oppose "diversity" and "affirmative action," but will use virtually anything as a club to make their point.

Let's be clear--the kid is out of his league. I've done some rooting around on this through google and can't find any hard evidence to back this theory. I'm talking a specific policy broad enough to show a definite cause and effect relationship. But I'm green here. I'd love to see someone--specifically, not generally---trace this theory for me. Please step up, folks. I have only one demand--be detailed and thorough. No punk-ass meditations on the ills of diversity. No strawmen. No changing the subject. Serve up some weak-sauce, and it will be called out as such.