Faun
Diamond Member
- Nov 14, 2011
- 126,711
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I didn't say they were. I said they were provided the opportunity thanks to Republican policies and lack of oversight while Republicans were in charge of the Congress.[/B]14613]I am so fucking tired of idiots like a health myth trying to bring up the CRA as the culprit for the housing mess.
You are so fucking stupid health myth that I won't bother trying to educate you. It has been done before and is obviously a waste of time.
Believe what you wanna believe and disregard the rest. Right health myths. Regardless of the fact of the matter.
Facts mean nothing in the land of make believe on the Internet.
That imbecile has already proven he can't comprehend what he reads. CRA loans were not the problem. CRA loans comprised only about 6% of the toxic loans and while that 6% contributed to the crisis, it wasn't the cause. The cause was a lethal combination of greed and opportunity. Lenders were giving out loans they knew were likely bad because they knew the government would back them. Remove downpayment requirements and drop interest rates to bare minimums; and the line to get a loan wrapped around the provebial block.
The CRA forced lenders to give loans to minorities .... 94% of the toxic loans, which caused the crisis, were not CRA loans and written willingly by greedy creditors. All it takes is a very small percentage of CRA loans to go bad to provide the nutty right the excuse to blame a Democrat for the financial crisis when almost all of the blame lies at the feet of Republicans.
All those greedy bankers were Republicans? Sure they were. LOL!
Greedy bankers come from all walks of life.