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Nah, you switched arguments mid stream without any reason or warning, besides that the crisis argument was easier to prove wrong than the parent's. CRA was intr
by vadansky 6y ago
Nah, you switched arguments mid stream without any reason or warning, besides that the crisis argument was easier to prove wrong than the parent's. CRA was introduced 43 years ago, the 2008 crisis was 12 years ago, there is no reason to link them today.
- deiznof 6y agoMy entire point the whole way through was about Sowell being wrong about the CRA, and it literally doesn't matter when it was introduced. It was an example of anti discrimination legislation regarding loans that Sowell has directly commented on, what other example should I use?
- vadansky 6y agoParent's argument can still be correct even though the CRA did not cause the housing crisis. Those are unrelated. The first argument might be correct and the CRA increases defaults by giving loans to people who can't afford them, and still there was a regulatory failure with firms rubber stamping bad debts as AAA and packaging them up in 2008.