wf3h wrote:
On Sep 24, 10:41 am, Wilson Woods wrote:
wf3h wrote:

you mean
I mean that it isn't wrong. CRA isn't the whole story, but it is the
first chapter of the whole story.-

no moreso than the letter 'a' is the entire dictionary.

No, *much* more so. CRA was just the first step toward the catastrophe,
but it decidedly was such a step. The Clinton complicity in 1994 was
directly based on it. The politically motivated destruction of
underwriting standards at Fannie Mae and Freddie Mac was specifically to
get them to buy CRA mortgages, but once the standards were eliminated,
there was an explosion in other non-CRA subprime lending. But CRA
started it, and accelerated it in 1994.