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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (458915)	2/24/2009 8:31:24 AM
From: jlallen	2 Recommendations Read Replies (2) \| Respond to of 1574096

the majority of the subprime problem had nothing to do with the CRA. Nonsense. Without CRA there was a much smaller market for these loans....the mortgage companies would have had no place to sell them....

To: tejek who wrote (458915)	2/24/2009 2:50:51 PM
From: TimF	Read Replies (2) \| Respond to of 1574096

The CRA worked fine all the way through the 80s and 90s In the same sense that your breathing would work fine if you where trapped in a cave that was filling up with water, until there was no more air for your to breathe. The problem didn't start when you drowned, it started when the cave started to fill up, or maybe when you entered it in the first place. For the CRA, the "cave" started to "fill up" right away, it took awhile to fill, and the speed of the filling may have accelerated later, but the bill the problem that was one of the reasons behind the housing bubble, and thus one of the reasons behind the problems from the bursting of that bubble.