[RightOnTheLeftCoast]

"This is so true. I dont even hear this on mainstream conservative talk radio or from conservatives that depend on it."

Yes, it's true as far as it goes. But any analysis of the economic meltdown--even a capsule summary--which neglects to mention the Community Reinvestment Act is missing a central point.

[sickoflibs]

RE “But any analysis of the economic meltdown—even a capsule summary—which neglects to mention the Community Reinvestment Act is missing a central point. “

Well that's certainly the talk radio main theme. They beat that sole theory to death. CRA certainly made the problem worse and got democrats to live and vote in republican districts but....

1) Many more buyers bought property they couldn't afford assuming the bubble was real (guess why?) than those under CRA, many middle class good earners lured into investment because of bubble there were assured was REAL ECONOMIC GROWTH!
2)Bush promoted CRA goals and took credit for them,
3) Bush promoted illegal Hispanics who were the big beneficiaries of CRA.

President Bush Mortgage Speech 2002(Helping those w bad credit buy houses)