Michelle Malkin is at it again, and this time she’s placing the blame on illegal immigrants for the financial crisis with WAMU. This misguided woman has taken her credibility to an all time low, which is evident by her fellow conservatives criticizing her for arguing such a far-fetched, conspiracy theory. Normally, her anti-immigrant, illogical reasoning and prejudicial ranting doesn’t phase anyone, but now, even her own party is distances themselves from her. In her most recent blog, she’s blaming the current financial crisis bailout on illegal immgrants, making fellow conservatives cringe with embarrassment.

You’ve heard a lot about Fannie/Freddie and the minority lending shakedowns, but you haven’t heard most commentators/analysts on either the left or the right talk about the massive illegal alien mortgage racket — a topic I’ve reported on for the past five years. That’s because fault lies at the feet of the crime-enabling banking industry and the ethnic lobbyists and the illegal alien-enabling Bush administration.

Malkin argues that illegal immigration may be the cause of this financial crisis, an issue she has been reporting on for the last five years. This radical argument brought out fellow conservatives such as UCLA professor Stephen Bainbridge, who comments:

“Some of my fellow conservatives are not only embarrassing themselves during the financial crisis, they’re embarrassing the rest of us who share that label.”

There’s a lot of room for legitimate criticism of the bailout and there’s a lot of room for partisan point-making to ensure that the public remembers that the Democrats bear more than their fair share of the blame for this mess, but the raving of people like Malkin and Krikorian should be taking place in a padded room in Arkham Asylum not in the public discourse.

Put simply, the freezing up of the credit markets doesn’t have anything to do with either affirmative action or illegal immigration, and people who believe it does are on a par with the conspiracy theorists who think fluoridation is a Chicom plot.” Read it here

Malkin was not the only anti-immigrant activitist speaking out about the the financial crisis. As Bainbridge referred to above, fellow commentator Mark Krikorian basically implied that the crisis is due to minority employees. Say what??

Krikorian of the Center for Immigration Studies, juxtaposed the downfall of Washington Mutual with its competitive diversity policies and programs, insinuating that minority employees were responsible for the bank’s failure. Read it here.

Bainbridge noted some interesting facts which lead to the crisis, none of which had any connection to illegal immigration or ethnic workers.

When you look at the data, it’s true that minorities are slightly over-represented in the sub-prime mortgage market. Yet, whites (non-minorities) received 72.5% of subprime mortgages. Blacks got 16.2% of subprime mortgages, which isn’t all that different from the 12.4% of the general population that blacks comprise. The Hispanics about whom Malkin is so hysterical got only 6.2% of subprime mortgages, significantly less than their 14.8% of the general population. But you don’t find an analysis of that data at blogs like those of Malkin or Krikorian.

Anti-immigrant haters such as Malkin and Krikorian must be living on another planet. Soon they will blame illegal immigration for the war in Iraq.. hmmm, I think Malkin did that already.