Hmmm... I don't think it's racism.
Affirmative action was created so that historically underrepresented minorities in work and school places could be hired/accepted in order to help them break a cycle of poverty. The justification for affirmative action was that underrepresented minorities lacked the resources to succeed (well-funded schools, an environment that helped breed success, buying SAT Prep Books/Hiring SAT Tutors) and that should be accounted for.
If you look at charts
http://en.wikipedia.org/wiki/File:1995-SAT-Income2.pngThe lower the income, the lower the SAT. This is probably a result of lower income people living in schools that do not encourage students to seek post-secondary opportunities, and the lack of availability of study materials/hire tutors that may wealthier suburban (middle to upper middle class) families have the opportunity of doing.
Furthermore, the environment which students grew up in cannot be neglected. One who succeeds in an upper middle class neighborhood on average has less to overcome than one who succeeds in a lower class neighborhood.
Therefore, college admission committees/prospective employers look at the circumstances of the success rather than the success itself.
Also, one must consider what college admissions committees desire when building an entering freshman class. They want diversity (Obvious diversity like race and gender, but also diversity of skills, experiences, life-stories) and in order to draw from the latter type of diversity, one has to dip into different demographics. If a college were to build a class based just on the top SAT scores and GPA, the result would be a predominately upper middle class-upper class freshman class with less diversity in life experiences than if the top students from each demographic class were selected.
And with affirmative action, they don't select underqualified students to be in their class. Often, (especially for Ivy League and comparable schools) there are many admissible students but with very limited spots. So it doesn't mean that those schools are filling their classes with unqualified Hispanics, Native Americans, or African-Americans.
The example I use to defend affirmative action is myself being Asian. (While my story does not ring true with all Asians, I feel like it gives an accurate portrayal of most Asian children). The first thing is that Asians who have immigrated here (particularly from Korea, Vietnam, China etc.) were of the upper middle-upper class in their respective countries. Many Koreans who came here including my parents were students (who had money and education). Many Vietnamese that came here are South Vietnamese Army Officers/soldiers and their descendants. (Hence the people with money and education relative in their country)
So to begin with the Asians in this country as a whole are self-selected, wealthier, and more intelligent/educated. This is coupled that within our cultures, education is viewed very importantly (as Confucianism preaches). Therefore, we are in situations that are favorable for educational success.
We as Asians I don't think should view affirmative action as unfair when in general we have had many other advantages (particularly in school) based on our parents and our culture.
Although I concede that affirmative action has its problems. Most of which is that racial diversity does not always correspond with socio-economic diversity. There are rich black people who have had every advantage in life and there are poor Asians/whites who have been disadvantaged in everyway in life. So I think affirmative action is adapting to how society changes, and is doing a good job.
And besides it's not like the Ivy League/comparable students reject all Asians... there is a very high percentage of Asians that still go to Ivy League schools =P, and some schools are legally not allowed to discriminate on basis of race (such as the UC schools)
So, in the end... I think as Asians, we will be okay.
Haha my really long rant sorry about that.