"Wayne" wrote in message
...

"Datesfat Chicks" wrote in message
...
wrote in message
...
http://www.nationalpolicyinstitute.o...gage-meltdown/

This is a useful site worth forwarding. Note article Economics of
Mass Deportation.

Um ... has it been demonstrated that the mortgage meltdown is due to
minority lending (as is claimed in the article)?

Any citations there?

You living under a rock, so that you haven't seen that in the news for the
past year?

You haven't provided any credible evidence that the CRA loans contributed to
the crisis.

From Wikipedia:

BEGIN QUOTE
Some legal and financial experts note that CRA regulated loans tend to be
safe and profitable, and that subprime excesses came mainly from
institutions not regulated by the CRA. In the February 2008 House hearing,
law professor Michael S. Barr, a Treasury Department official under
President Clinton,[64][108] stated that a Federal Reserve survey showed that
affected institutions considered CRA loans profitable and not overly risky.
He noted that approximately 50% of the subprime loans were made by
independent mortgage companies that were not regulated by the CRA, and
another 25% to 30% came from only partially CRA regulated bank subsidiaries
and affiliates. Barr noted that institutions fully regulated by CRA made
"perhaps one in four" sub-prime loans, and that "the worst and most
widespread abuses occurred in the institutions with the least federal
oversight".[109] According to Janet L. Yellen, President of the Federal
Reserve Bank of San Francisco, independent mortgage companies made risky
"high-priced loans" at more than twice the rate of the banks and thrifts;
most CRA loans were responsibly made, and were not the higher-priced loans
that have contributed to the current crisis.[110] A 2008 study by Traiger &
Hinckley LLP, a law firm that counsels financial institutions on CRA
compliance, found that CRA regulated institutions were less likely to make
subprime loans, and when they did the interest rates were lower. CRA banks
were also half as likely to resell the loans.[111] Emre Ergungor of the
Federal Reserve Bank of Cleveland found that there was no statistical
difference in foreclosure rates between regulated and less-regulated banks,
although a local bank presence resulted in fewer foreclosures.[112]
END QUOTE

The traceability between minorities, the CRA, and the meltdown just hasn't
been made by you or any material you are willing to cite.

Remember, us on the newsgroup have higher standards of proof than your
neo-Nazi colleagues at the trailer park ...

Datesfat.