GWV5903
Gold Member
CRA was the seed to this, planted by Carter, enhanced by Clinton....
You do not give anyone a mortgage when all they have in the game is $500....
It really is that simple....
Not really that simple. None of that would have been possible without the Federal Reserve. Certainly what you said is true, but at the heart of the matter is the Fed.
I agree the Fed is a central part....
The CRA though opened doors that were never opened before, and for obvious reasons....
You don't offer crack to an addict, right? By the same definition, you do not offer a mortgage to a terrible borrower....
Where I believe Carter had good intentions based on his Habitat for Humanity involvement, Clinton's motives where purely political....