CRA simply said that location alone could not be used as a reason to deny loans or redlining, it had nothing to do with lowering any income standards. The problem with just letting the banks fail was that they held the bulk of pension plans and retirement savings hostage. Bailing them out was the right move but it should have come with a reform or be broken up condition.
And that's where our primary point of disagreement lies. The notion that banks failing would have taken down the entire system was a scare tactic (employed because that banks didn't want to take their medicine). We have a sane mechanism in place for handling bank failures that would have protected most smaller investors and pensioneers. But the fat cats would have taken a hit - and we can't have that!