I wouldn’t blame BofA here. When did the CRA come out? 1979. That bill put a gun to bankers heads and said, “You’ll loan money to people who can’t pay you back, or you are going to court, and you’re going to lose.”
BofA comes back and says, “At least let us roll this crap into bonds and sell it.”
Government: “Whatever.”
BofA: “Thanks!”
The rest is history. To keep things quiet, Democrats ask BofA to keep ACORN afloat and come up with this. Doesn’t surprise me in the least.
You hear anything in the State-Run Media about how evil Wal-Mart is? Funny how that stopped when they got behind Obamacare.