It's a trick that's worked for decades. When a political fad becomes embarrassing, in many cases because it sanctions evil, the politicos and pampered pets duck out and blame the scapegoat - and hope that everyone forgets their own participation in said fad.
Case in point: The Third Reich In The Ivory Tower.
If America ever turns against the Muslims, you'll see the usual suspects blaming the usual scapegoats. "The oil companies made us like them!" or some such rot.
With the housing it fell apart in a few years, not decades; it quickly became clear WHY banks had refused to lend to many people.
I looked at the link; I’m not familiar with that story. I know many Americans (more so at the time of WWI) never comprehended how many Americans come from German descent (having nothing to do with politics). It is the main reason the United States has no official language; there were so many Germans in Washngton’s army. Here in northern NJ many ironworkers were imported prior to the American Revolution.