Nick:
No I don't believe it was the Community Reinvestment Act that caused the Economic Crisis. It was predatory lending, folks maximuming out the amount that they could get from the government by finally selling housing to working low income families. These low income familiew could afford to purchase a home but lenders took advantage of these folks. What the government said they would lend within an income range, the lenders generally went to the highest range and sometime beyond. Why because these loans were guaranteed. These lenders did not care about these families.
Corrupt and greedy folks who should be under the jail and paying some of this money back. And the families should be made whole in these cases of fraudulent behavior.
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