It wasn't the original 1977 Act that was the real culprit, however. It was the tinkering that went on through the Clinton and Bush administrations, further opening CRA loans to people with low credit scores or no credit backgrounds, women and minorities. You'll notice, I have not said one word about "class" here.
I'm sure that's what you heard on Hate Radio. It just isn't true according to the government or the banking industry.
Reality- you guys got deregulation and letting the banks do whatever the fuck they wanted, and you got the exact same result you got 80 years earlier before all those commie socialist regulations were put into place.
And you base this on WHAT exactly? Your OPINION? I've actually hired people, so I can tell you what MY criteria are in hiring... race has nothing to do with it.
And how many people of color have you hired?
I'm guessing not many.
Well Joey, as fun as it is to play Let's Chase the Goalposts Around the Field with you... I got better stuff to do. Like I said, it was the numerous revisions to CRA (some Republican led, some Democrat led) which culminated in the financial collapse. In short, it was government meddling in free market capitalism where it shouldn't have been. THAT is what caused the financial collapse and subsequent recession. You can jawbone all you like about it... you can change the argument around and try to spin it this way or that... I don't really care, that's what happened.
As for how many black people I've hired... dozens. I've hired Latinos, Asians, Puerto Ricans, Indians.... you name it. One of my best employees ever was a single black mother. But none of them were hired because of their race. I don't discriminate and stereotype people like you, Joe. I grew up in a place that had a history of racism and I learned to deplore it at an early age. One of my childhood heroes was Dr. MLK, Jr. I still admire the man and live by what he stood for. So when you insinuate that I am racist, I literally laugh out loud at what a fool you are. You see, I know the truth about myself, and I know the truth about you, Joe... I've been dealing with your kind all my life.
SOunds like you had/have much more hiring than I have, BUT at the height of my middle management career I did a fair amount of hiring and I hired plenty of blacks also.
Some of my best employees were black also. (not many asians or latinos in my city at that time)
In fact I was giving a "problem" employee who was a young black woman, and after working for me for several years, she was promoted to my old middle management job after I left.