Obviously it isn't. You didn't go back far enough...it all began with a federal government leaning on banks to lend to minorities who ultimately couldn't pay the loans back. The NYT predicted exactly the disaster which was the follow.
Obviously it isn't. You didn't go back far enough...it all began with a federal government leaning on banks to lend to minorities who ultimately couldn't pay the loans back.
Spare the world your revisionist (and very racist) version of history. The mortgage bubble by caused by the deregulation crafted by Phil Graham in the late 1990's.
The vast majority of sub prime loans that created the mortgage bubble had nothing to do with the CRA. -- "Ubuntu protects you from malware in the same way that a Geo protects you from carjackers." -Anonymous
Talk about revisionist history. The Gramm act was passed in an overwhelmingly bipartisan vote (90-8, 362-57) and signed into law by then President Clinton.
Yep, we all know how racist the radical conservatives at The New York Times are. Shame on them for predicting the future a decade in advance revising history.
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