It's not just a smart/dumb thing - although that's part of the equation. It's a completely different world view. Just like a scientist can look at a bird's feather and see the wonders of evolution while a creationist can see the divine hand of God.
I live in a largely black neighborhood in a mostly black city, and work with a lot of well educated blacks. At the risk of stereotyping, they tend to see conspiracies everywhere. For example, bank doesn't get my mortgage check and I blame the Post Office for losing my letter. A black friend says, don't I know banks "lose" a certain number of payments each month so they can boost their profits with late charges? He wants to know if I'm really THAT naive.
In my personal experience, most blacks are CONVINCED that their candidate was elected president but that "The Man" stole the election. Hence, their votes didn't count. Hence they were "disenfranchised" - a big word they like to toss around.
Maybe he has the same mortgage company I do. Because my bank actually calls me for my payment before I'm late and after I have proof of delivery by mail.