Tag Archives: community reinvestment act of 1977

Why The Housing Boom Went Bust

I’m reading this new book by economist Thomas Sowell — The Housing Boom and Bust. He writes that “the idea that lenders would be offended by receiving monthly mortgage payment checks in the mail from blacks should at least give … Continue reading

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Who Was Responsible For The Subprime Meltdown?

This Orange County Register article — like many from this paper — gets behind the headlines and beneath the rhetoric of ideologues to examine the facts: Did a 31-year-old law giving poor people a break at the bank accidentally break … Continue reading

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Fannie/Freddie Dropped Standards At The Request Of Politicians

NationalJournal: Many conservatives have gone so far as to blame Fannie, Freddie, and their Democratic sponsors for the entire meltdown. Some (not including Wallison and Calomiris) also blame the Community Reinvestment Act of 1977, which forced banks to lend and … Continue reading

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