- Mar 11, 2015
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So a law passed in 1977 sat silently in hiding & then leaped & pounced in 2006 - 2008 & created the worst recession in 80 years.The CRA had nothing to do with the housing collapse & near financial meltdown.It is one thing to lose moneyLosing over a billion over ten years.
I can't believe you assfucks are defending that.
Soros lost a billion in a few weeks. Just part of the game that the rich play.
The CRA was passed under Carter you stupid fuck.
You don't know shit about economics.
In 1995 Clinton loosened up the housing rule and rewrote the CRA , which put added pressure on banks to lend in low-income neighborhoods.
The CRA had nothing to do with the housing collapse & near financial meltdown.
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Great thinking.
Studies show the the percent of failed CRA loans among all mortgage loans during the collapse was no different from the percent of all mortgages that were CRA.
So a law passed in 1977 sat silently in hiding & then leaped & pounced in 2006 - 2008 & created the worst recession in 80 years.
Nope. It was increased, stupidly, under Clinton.
Increased, again, stupidly, under GW Bush.
And don't get me started on HUD forcing Fannie and Freddie to buy crap mortgages.
More untrue bs.