Quote:
Originally Posted by MovieMaster
I agree its not all the CRA but it was the original domino that created this mess, then if govt is gonna force us to do this then fine greed will take over... political handouts to shut people up and so on... BUT The CRA regulation is what started this mess.
The videos are a great quick education.
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actually the domino that started this was Phil Gramm pushing for The Glass-Steagall Act to be revoked. That happened in 1999 and it caused a bunch of this. That's why they put the act in place during the depression is it wouldnt happened again. After the act was revoked only 25% of all subprime loans fell under CRA.