sharkiz1

I'm only about half way through reading those links. Thanks for posting them. I understand what they are saying about the CRA not causing the crisis. That isn't what I was necessarily saying. The real problem came after 1995 when the revisions made, under Clinton, allowed these sub-prime motgages to be securitized. That's where Fannie and Freddie were profiting. . .in the trading of the mortgages. However, without the CRA, there would have been no sub primes to trade. So, the cause? No. But without it it wouldn't have happened. . .it layed the groundwork.

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"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm