CRA Role in Housing Meltdown

[volinbham]

Clearly this is a racist study...

New Study Blames Community Reinvestment Act For Mortgage Defaults - Investors.com

"We want your CRA loans because they help us meet our housing goals," Fannie Vice Chair Jamie Gorelick beseeched lenders gathered at a banking conference in 2000, just after HUD hiked the mortgage giant's affordable housing quotas to 50% and pressed it to buy more CRA-eligible loans to help meet those new targets. "We will buy them from your portfolios or package them into securities."

Read More At Investor's Business Daily: New Study Blames Community Reinvestment Act For Mortgage Defaults - Investors.com
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If this is the same person I think it is then she has been seriously destructive - she's the author of the "Gorelick" wall that kept groups like the CIA and FBI from sharing info - a major problem in preventing 9/11. For some reason then she was a major player in the 9/11 Commission that examined why this happened. Now I see she was directly linked to Fannie Mae and it's role in the housing crisis.

 

[FLVOL69]

Props to Slick Willie and company for such stellar legislation ...

 

[BigPapaVol]

Clearly this is a racist study...

New Study Blames Community Reinvestment Act For Mortgage Defaults - Investors.com



If this is the same person I think it is then she has been seriously destructive - she's the author of the "Gorelick" wall that kept groups like the CIA and FBI from sharing info - a major problem in preventing 9/11. For some reason then she was a major player in the 9/11 Commission that examined why this happened. Now I see she was directly linked to Fannie Mae and it's role in the housing crisis.

Clearly this was the start of the problem. I wonder if this type of loan in the CMO world was the genesis of the Credit Default Swap, so that the security could fit into Banks' and Insurers' investment portfolios. I'm willing to bet that the tide of silly ratings and the CDS markets started with propping up CRA lending programs.

 

[lawgator1]

Clearly this was the start of the problem. I wonder if this type of loan in the CMO world was the genesis of the Credit Default Swap, so that the security could fit into Banks' and Insurers' investment portfolios. I'm willing to bet that the tide of silly ratings and the CDS markets started with propping up CRA lending programs.

Fetzer valve. imo.

I'll need some gauze, some 3-in-1 oil, and some ball bearings. Its all ball bearings these days.

 

[MG1968]

anybody who claims industry deregulation is what led to the housing crisis is an idiot

 

[BigPapaVol]

Fetzer valve. imo.

I'll need some gauze, some 3-in-1 oil, and some ball bearings. Its all ball bearings these days.

I know it's hieroglyphics to you, but that's because you couldn't pick a SWAP out of a lineup.

And...only you could make Fletch not funny.

 

[utvolpj]

Clearly this is a racist study...

New Study Blames Community Reinvestment Act For Mortgage Defaults - Investors.com



If this is the same person I think it is then she has been seriously destructive - she's the author of the "Gorelick" wall that kept groups like the CIA and FBI from sharing info - a major problem in preventing 9/11. For some reason then she was a major player in the 9/11 Commission that examined why this happened. Now I see she was directly linked to Fannie Mae and it's role in the housing crisis.

looks like it is the same woman. Anyone with a nickname like "Mistress of Disaster" probably has a record on par with LG's predictions