Blog on the Run: Reloaded

Monday, December 8, 2008 8:10 pm

Scratch one suspect

“We have not yet seen empirical evidence to support these claims, nor has it been our experience in implementing the law over the past 30 years that the CRA [Community Reinvestment Act] has contributed to the erosion of safe and sound lending practices.”

So the CRA, created in part to ameliorate the effects of decades of redlining by banks, isn’t to blame for the mortgage-based mess in which we find ourselves. But don’t take my word for it. Take this guy’s, inasmuch as he might actually be in a position to know.

1 Comment

  1. It all depends on what you mean by meaningful

    Comment by Fred Gregory — Tuesday, December 9, 2008 2:52 pm @ 2:52 pm

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