Posted by bad_luck on 11/7/2013 12:56:00 PM (view original):
Posted by MikeT23 on 11/7/2013 12:46:00 PM (view original):You're pointing out something incorrect.
Posted by moy23 on 11/7/2013 12:43:00 PM (view original):I wasn't really blaming anyone. Just pointing out that Clinton opened some doors to bad loans that had been locked shut.
The economy crashed because of 'greed'. The fed, the banks, and those that signed for mortgages they could not afford are all equally guilty. Arguing over which party is at fault here is pointless.
Almost all subprime loans were made by companies not subject to CRA regulation. The law didn't unlock anything.
Yet, if you bother to read anything about Clinton/CRA, you'll see that it was revised because it was too burdensome and detailed to produce actual results. That would lead one to believe the process was streamlined and, because the approval process was less "strenuous", loans that were declined would now be improved.
I'm not going to continue arguing this with you because you're a liberal parrot. But I will recommend you read up on it and stop using "almost all" because you think that exonerates you from committing to anything(much like any good liberal).