When that stupid Left Wing Liberal policy blew up because the poor could not make their mortgage payments, which is why they are called “Poor”, for crying out loud, the government and the media blamed the banks. Do you remember how the Carter adminstration passed the Community Reinvestment Act so that banks were forced to reduce down payments practically to zero and lend to a lot of people they knew were bad credit risks?

Carter and his ilk are the people who decided banks were racist. Carter has a special awareness of racism, being from Georga. The CRA, a Soviet-style ORDER forced banks to make bad loans to people who could not afford the payments because the borrowers were Black, Hispanics and to some who were outright criminals. Government forced banks to use a borrowers race to make bad loans or be fined and maybe lose their Charter.  

During a 2008 House Committee on Oversight and Government Reform hearing on the role of Fannie Mae and Freddie Mac in the financial crisis, including in relation to the Community Reinvestment Act, asked if the CRA provided the “fuel” for increasing subprime loans, former Fannie Mae CEO Franklin Raines said it might have been a catalyst encouraging bad behavior,….. All that is bad enough but it’s about to get worse if Obama is re-elected. Here is more about the CRA but you need to figure out exactely how the Sub-prime Mortgage Crisis was caused by the CSA. Read More……..

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