Conservative Larry Kudlow Blames Financial Crisis On Poor People

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I'm tempted to say that CNBC's Larry Kudlow came to this conclusion because he's back on drugs, but it's even worse than that. Kudlow, and many conservatives, are not in fact chemically imbalanced but seriously believe this crap.

In this clip from Morning Joe, Kudlow details how he believes that the poor multibillion-dollar firms on Wall Street were forced to give mortgages to the thuggish poor, and that is what caused the current meltdown on the market. The reality of course is, as always, Wall Street got greedy, had no oversight, and then promised many people the chance to own a home and sold them a bill of goods built on a mountain of sludge.

On the other side were many speculators who thought they could flip these houses quickly, and that buying led to an increase in the bubble and again Wall Street was just handing out money like it was going out of style without government oversight.

But no, Larry Kudlow says, its the poor people's fault for wanting to own a home and its the government that forced the poor Wall Streeters to do this. Off to the debtor's camps with them!