Just checked and the CRA is alive and still going.
http://occ.gov/news-issuances/bulletins/2015/bulletin-2015-10.html
Barney Frank was tied into a number of scams.
Lehman Brothers went under due to Fannie and Freddie loans and we bailed them out. Cruz and his wife are part of Goldman Sachs same type deals plus their trade crap (TPP).
“Lehman Brothers went under due to Fannie and Freddie loans and we bailed them out.”
No, those were not Fannie and Freddie loans. F&F wrote conforming paper even during the bubble and conforming paper was as safe as it has always been. That’s why lenders only used to deal in conforming loans.
The loans that killed Lehman were high risk NINJA, Option ARM, No Down exotic paper issued by F&F’s private sector rivals.
Moreover the CRA only applied to deposit taking banks, a small segment of mortgage lenders. It didn’t apply at all to the shadow banking sector of investment banks, hedge funds and other non-deposit lenders. Lehman Brothers was an investment bank and paid no attention to the CRA.