Fannie Mae-No Politics (FNMA)

[pablocruize]

Earlier this week I noted that I had changed my mind on the Community Reinvestment Act.

Contrary to my initial conclusion, the evidence is overwhelming that the CRA played a significant role in creating lax lending standards that fueled the housing bubble. Once I realized this, I had to abandon my suspicion that the anti-CRA case was a figment of the rhetoric of Republicans attempting to distract attention from their own role in the mortgage mess.



Read more: http://www.businessinsider.com/the-cra-debate-a-users-guide-2009-6#ixzz2aEILYfBS Old news but still true....