Mortages And The Community Reinvestment Act
You might hear some Republican moron spout off about how the CRA is at the root of the current financial meltdown. Bullshit, sez Bonddad (09.18.08):
"There's a meme going around the right wing blogs. Deregulation has nothing to do with the current problems in the market. The real culprit is the Community Reinvestment Act signed into law by President Carter in 1977." Memo to Republicans: CRA Has Nothing To Do With the Current Problems"Nothing could be further from the truth as a reading of the facts of the matter reveal." Damn them facts is pesky things, huh.