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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (459082)2/24/2009 3:57:32 PM
From: combjelly  Read Replies (2) of 1574125
 
"For the CRA, the "cave" started to "fill up" right away"

BS.

Historically speaking, the default rate for CRA loans has been slightly lower than the general market. So, in your analogy, CRA loans weren't filling the cave but modestly helping to pump it out.

In addition, the Bush administration weakened the CRA requirement so the absolute numbers of those loans were on the decline over the years where most of the bad loans were written.
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