Quote:
Originally Posted by middle-aged mom
Too bad they left out the part about the "coincidence" of HUD's massive mandate to increase sub prime loans and the need for the economy to recover from the dot.com bubble bust, followed by 9/11.
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It was in there...the part about Greenspan lowering fed funds to 1%.
I don't buy the whole premise that the entire financial system as we know it was brought down because of things like CRA. There was much more to it than that. It was a contributing factor, but only insomuch that there were other greasers and much bigger wheels.
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