Memo to Repuglicans: CRA Has Nothing To Do With the Current Problems
by Anonymous
There's a meme going around the right wing blogs. Deregulation has nothing to do with the current problems in the market. The real culprit is the Community Reinvestment Act signed into law by President Carter in 1977. Nothing could be further from the truth as a reading of the facts of the matter reveal.
Let's look at a root cause of this garbage. John Hawkins at Right Wing News has a classic analysis :