Don’t blame CRA: Part 1, ‘forced to make bad loans’?
It’s becoming fashionable, among policy journalists (and even certain ex-CEOs of Fannie Mae) to suggest that the devil made them do it, that somehow pressure to extend affordability overrode all their instinctive prudence and led them down the primrose path to America’s financial ruin. Don’t blame me, runs the refrain, blame the Community Reinvestment Act [...]
