Everybody who's been studying the CRA of 1977 will agree that it's roots were quite possibly a good thing. But it can't be disputed that the provisions signed by Clinton in 1995 which ENFORCED lending quotas to high risk borrowers, along with the securitization of the loans was most definitely a very bad thing. It created the perfect environment for what we're seeing now, and made the perpetrators wildly rich. Many of these same perpetrators are the ones claiming that they can SAVE us from what they caused.

I say about them, as I say about this looming bailout -

NO CONFIDENCE!

70 posted on 10/02/2008 1:53:31 PM PDT by hiredhand (Understand the CRA and why we're facing economic collapse - see my about page.)

72 posted on 10/02/2008 2:16:43 PM PDT by brityank (The more I learn about the Constitution, the more I realise this Government is UNconstitutional !!)