Sorry..but I trust the WSJ,Investor’s Business Daily, and a boatload of other finacial experts more than I do this Orange County Register ‘reporter’. The CRA is a 30 year program and this writer only goes back a few years to do his ‘research’? Not buying it. We know what happened and there is plenty of blame to go around, but the root of the mess is the CRA and the easy credit.
CRA, subprime & Easy Credit aren’t the same things.
You are engaging in an ad homin attack on this guy who did obvious reporting, he’s got the numbers, he’s got the facts and you could find them all for yourself. BoA & WaMu are publicly traded companies. The data is out there.
Here’s a similar article from
http://www.mcclatchydc.com/2008/10/12/53802/private-sector-loans-not-fannie.html
I want to introduce you to this blog.
http://www.ritholtz.com/blog/
He was calling this nonsense back in 2005.
he’s written a great book called “Bailout Nation”
He’s willing to bet 100,000 that the CRA didn’t cause this crisis. So far nobody’s took him up on it.