[donna]

And banks were accused of ‘red lining’ mortgage loans. Clerks used to look at photo copies of borrowers drivers licenses to see if they could be claimed as Hispanic or something to meet the quotas. Eventually, it came to 5 million mortgage loans to illegal aliens, lol.

[DannyTN]

Yeah but I don't that was the mutual funds. That was a combination of three things.

• The community reinvestment act, which I think was a good idea. It forced banks to invest a portion of the funds they raised from a community back into the community.
• Banks not standing up to racial organizations that used the CRA to badger them into making unwise loans.
• And most importantly, the economic downturn, which caused people to lose jobs and the mortgages to go bad. That downturn was caused by a continued weakening of the US economy due to unwise so-called "free trade" agreements, which have devasted our industries. And the oil price spike that began in 2007, that triggered the economic collapse. Turns out all economic downturns look like real estate bubbles in hindsight. But mortgages are a symptom not a cause.