4 ms·
Ugh, not that tired old horse - the CRA existed for years prior to the crisis, yet the run up happened between 2001 and 2006. That, by itself, basically refute
by inthewoods 15y ago
Ugh, not that tired old horse - the CRA existed for years prior to the crisis, yet the run up happened between 2001 and 2006. That, by itself, basically refutes the idea that the CRA caused the housing crisis.
- prodigal_erik 15y agoIn other news, the CRA only applies to retail banks offering FDIC-insured deposits, while most of the stupid loans were written by pure mortgage banks immune from the CRA. And it's not as if they needed to be pressured into it when they could take their cut and dump 100% of the fraudulently concealed risk.