candooman

Don't Blame Deregulation For This Crisis, It's All About Lack of Regulation

Until the Community Reinvestment Act was passed by the Democratic Congress, signed by Carter 1977 and given more teeth by Clinton in 1999, the decades old banking practice of requiring proof of ability and reliability to pay a morgage back worked very well. The was no need for regulations. The Democrats desire to bring their poor constituents started all this mess that we are now all paying for.