Are Minorities Really To Blame?

Ok dear readers, I have a question.

Are minorities really to blame for the financial mess?

Now I know that some of this is because of sub-prime, but can a whole financial system break down because minorities were given bad loans? C'mon now, I have a hard time believing that.

I am asking this because I don't like the spin that's being placed on this as being something that's caused by the "other". In fact, I'm sickened by it.