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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: John Vosilla who wrote (106117)2/22/2008 11:05:53 AM
From: Jim McMannisRead Replies (1) of 306849
 
RE:"Community reinvestment legislature from the late 1970's 'forcing' banks to lend in poor minority neighborhoods..Please we can blame poor Jimmy for some things but this is ridiculous"

If those laws were used to get people into toxic mortgages 30 years later I'd say it's another case of the "rule of unintended consequences." Not as bad as the 1997 law though.

Congress can be the most damaging force against a free market there is.
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