It worked GREAT for GWB. What could go wrong?
The CRA -—Community Reinvestment Act-—was started under Carter—and exploded under Clinton with Henry Cisneros & Reno helping strongly.
Carter believed that ‘HOME’ ownership was a right & he even authorized that food stamps were to be considered income to get a home. Reno threatened to sue every bank that balked and she meant it.
Not the fault of GWB.
” It worked GREAT for GWB. What could go wrong?”
Somebody should go back to the summer of 06, where I warned of a trillion dollar mortgage bloodbath : )