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Originally Posted by Flacolaco
"Affirmative action" banking was not something the free markets came up with all by themselves. Carters' Community Reinvestment Act and Clintons further tweaking of those banking rules that required lenders to make risky loans weren't limits pushed by the free market willingly.
Their stupid liberal ideas about how it's every Americans right to own a home is as much as responsible for this mess as anything else.
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Some charts and indicators on the housing mess. Very interesting. The Clinton changes to the CRA came into effect in January of 1995:
http://www.cepr.net/documents/public...rs_2007_02.pdf