snjmom
VIP Member
- Sep 7, 2010
- 678
- 106
If you can't recognize that securitization and AIG's complete idiocy of insuring investment bets were the cause of the problem, you are willfully ignorant. CRA is community investment, not First Time Home Buyers. CRA states that if you were pulling profits from an area, you need to be investing in it using the SAME criteria you would use to assess a borrower from a more prosperous area. Much of the funds are used for development, new businesses, etc.
Take a look at Ft. Lauderdale's programs. CRA Projects
Any of that look like banks forced to hand over money to irresponsible borrowers? It's a red herring, designed to make you look away from the real perps, the ones selling bad loans as AAA securities, suitable for municipal pension funds, that needed to feed the maw seeking to improve on the artificially lowered returns generated my Greenspan's interest vise grip.
Take a look at Ft. Lauderdale's programs. CRA Projects
Any of that look like banks forced to hand over money to irresponsible borrowers? It's a red herring, designed to make you look away from the real perps, the ones selling bad loans as AAA securities, suitable for municipal pension funds, that needed to feed the maw seeking to improve on the artificially lowered returns generated my Greenspan's interest vise grip.