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To: Broken_Clock who wrote (37501)	1/10/2013 1:11:52 PM
From: Little Joe	1 Recommendation Read Replies (2) \| Respond to of 85487

Frankly I don't have the figures but if you want to you can look them up. The fact is CRA is well recognized as a cause of the Real Estate crash. If you don't accept that, I am not sure what to say. lj

To: Broken_Clock who wrote (37501)	1/10/2013 1:23:58 PM
From: longnshort	1 Recommendation Read Replies (1) \| Respond to of 85487

remember red lining and Jesse Jackson said Blacks couldn't get loans. the feds force banks to get rid of red lining and give more loans to minorities. Ask any broker on the east coast

To: Broken_Clock who wrote (37501)	1/10/2013 11:16:39 PM
From: i-node	4 Recommendations Read Replies (2) \| Respond to of 85487

>> The CRA was passed in 1977 and the RE bubble began after the stock bubble burst in 1999/2000. The CRA as enacted in the late 70s wasn't the problem because it had no teeth. In 1995, Bill Clinton expanded the scope of CRA by ordering changes to the regulations thereunder, which essentially required banks to make loans to unqualified borrowers. THAT, more than any other single thing, caused the crash five years ago. In 2008 BOA had outstanding CRA loans amounting to 7% of its mortgages yet accounting for 30% of its losses. An argument can be made there were other factors. But any goof who denies there was a role -- and a substantial one -- played by CRA doesn't have a clue what he's talking about.