dc_dux

I've heard the CRA argument and the facts might suggest otherwise.

...most subprime loans were made by lenders that aren’t subject to the CRA.

....something like 50% of subprime loans were made by mortgage service companies not subject to federal regulation and another 30% were made by affiliates of banks or thrifts which are not subject to routine supervision or examinations as a result of deregulation.

...given the higher degree of supervision, loans made under the CRA were made in a more responsible way than other subprime loans.
-----Added 30/9/2008 at 02 : 00 : 19-----
McCain's 2005-06 Fannie/Freddie bill? The one written for the most part by the Fannie/Freddie lobbyist who is now his campaign director and whose firm received $hundreds of thousands in lobbying fees from Fannie/Freddie?

It wasnt blocked by the Democrats...it never got out of committee in the Republican controlled Senate.

__________________
"The perfect is the enemy of the good."
~ Voltaire