So the banks were forced to lend to people that couldn’t afford to make payments. I believe Rush is correct that this was a contributing cause of the problem.
*****************
This was a separate issue that preceded the major fraud perpetrated on the country by the money center banks.. the inner cities were not the foreclosure epicenter nor were they the areas where valuations were ballooned... it is a parallel issue but it’s so small that it cannot be compared.
Are you referring to the Dodd-Frank Act?