No.....racism was used to allow people with horrible credit to qualify for loans on mortgages they couldn't afford.Ummm...that isn't even true.Democrats probably caused the Economic collapse in 2008.....and they caused the COVID lockdowns on 2020.
The stock market crashed in 2008 because too many had people had taken on loans they couldn't afford. Lenders relaxed their strict lending standards to extend credit to people who were less than qualified. This drove up housing prices to levels that many could not otherwise afford.
If you were black you could get into a $300,000.00 mansion for zero down and a credit score of 450 with no stable income.
Then close to a million people walked and left the bank holding the note.
That started the economic crash.....which was the excuse they used to dream up the Stimulus that Obama claimed would pay for shovel-ready jobs that didn't exist.