Thomas Woods, Jr. exposes some of the baloney that everyone believes:
For a quarter century, in fact, college-educated black couples have earned slightly more on average than college-educated white couples, yet “civil rights” leaders prefer to obscure the real situation by looking at the two races in the aggregate. Only that way can they claim that “racism” is the explanation for white-black income differences. …
Another fashionable cause, particularly during the 1990s and thereafter, involved accusations of discrimination in lending. Since blacks were less likely to receive loans than whites, “civil rights” activists cried discrimination ? to them, the only possible explanation for any differences in anything. But disparities in lending are clearly not caused by “racism.” For one thing, although whites are more likely than blacks to get a loan, Asians are more likely than whites to get a loan. Are we to conclude that systematic pro-Asian, anti-white bias is at work throughout American society? When net worth and other qualifying factors are figured into the equation, the lending disparity all but disappears. Moreover, if blacks were really being discriminated against and held to a higher standard than whites, they should have a lower default rate ? that is, they should default on their loans less frequently than whites. But their default rate is exactly that of whites, which indicates that blacks are indeed being awarded loans on the basis of merit and are not victims of discrimination.
Worth reading and remembering the next time you get into a debate over affirmative action.