Who blames the Community Reinvestment Act for our economic crisis?

Yet 50% of subprime loans were made by mortgage service companies not subject comprehensive federal supervision and another 30% were made by affiliates of banks or thrifts which are not subject to routine supervision or examinations. And then people blame Clinton, yet during his time CRA was at it's... show more Yet 50% of subprime loans were made by mortgage service companies not subject comprehensive federal supervision and another 30% were made by affiliates of banks or thrifts which are not subject to routine supervision or examinations.


And then people blame Clinton, yet during his time CRA was at it's strongest. Yet Bush was the one to cut back on CRA enforcement. Now that we fell further down the hole banks are trying to sell off houses at an even lower price than the CRA offered. Looks like a screw up to me by the Republican party.
Update: I say that the banks lived off a deadly cycle. Selling to the glutton pigs of America and not realizing money is not infinate. Give a loan knowing the person cannot pay it, they lose their house and are stuck paying for nothing for the rest of their life... Then they just sell it to the next person who cannot... show more I say that the banks lived off a deadly cycle. Selling to the glutton pigs of America and not realizing money is not infinate. Give a loan knowing the person cannot pay it, they lose their house and are stuck paying for nothing for the rest of their life... Then they just sell it to the next person who cannot afford it, putting them in a debt they will never get out of. Forcing them to pay for nothing for the rest of their lives.


And, when they finally sell the house, they made 1,000% profit off of idiots. Problem is, people can't afford to pay high interest rates on loans for the rest of their lives.
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