Here is a new study that reinforces the fact that the CRA and Democrat policies were the cause of the collapse.
The examiner isn't a credible source.
Fuck, even the BANKING INDUSTRY isn't trying to blame the CRA for the collapse.
Most of the banks that collapsed didn't even make CRA loans. They made loans to middle class folks to buy McMansions they couldn't afford on the hope of flipping them some day.
You need to learn to read.
The Examiner did not do the study but quoted the study by National Bureau of Economic Research. It has been around since 1920 and is well respected.
You don't want to believe because you are a Moon Bat and it points the finger at the damage done by the Democrats.
The CRA put government pressure on lending institutions to give credit for social justice reasons to asssholes that had neither the means or the inclination to pay back the money and then let the lenders know that if there were losses then the government would cover it. What could possibly go wrong with that?
About the NBER
About the NBER
Founded in 1920, the National Bureau of Economic Research is a private, nonprofit, nonpartisan research organization dedicated to promoting a greater understanding of how the economy works. The NBER is committed to undertaking and disseminating unbiased economic research in a scientific manner, and without policy recommendations, among public policymakers, business professionals, and the academic community.
NBER History
Over the years the NBER's research agenda has encompassed a wide variety of issues that confront our society. Early research focused on the aggregate economy, examining in detail the business cycle and long-term economic growth. Simon Kuznets' pioneering work on national income accounting, Wesley Mitchell's influential study of the business cycle, and Milton Friedman's research on the demand for money and the determinants of consumer spending were among the early studies done at the NBER. A summary of the NBER's early development can be found at:
Toward a Firmer Basis of Economic Policy: The Founding of the National Bureau of Economic Research, Solomon Fabricant, 1984
National Bureau of Economic Research - Wikipedia the free encyclopedia
The
National Bureau of Economic Research (
NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community."
[1] The NBER is well known for providing start and end dates for
recessions in the United States.
The NBER is the largest economics research organization in the United States.
[2] Many of the American winners of the
Nobel Memorial Prize in Economic Sciences were NBER Research Associates. Many of the Chairmen of the
Council of Economic Advisers have also been NBER Research Associates, including the former NBER President and
Harvard Professor,
Martin Feldstein.