[marshelk]

The actions by the Fed predated the activities by Fannie and Freddie. These activities were mandated by CRA as part of the social engineering that was going on. All the Fed did was enforce the law through the monitoring of the lending agencies and saw to it that they allocated mortgages to underserved communities within the previously redlined districts, and issued a percentage of mortgages to subprime applicants. Fannie and Freddie just swallowed the junk.

[TopQuark]

"These activities were mandated by CRA as part of the social engineering that was going on. All the Fed did was enforce the law "

That is what I said earlier on this thread. The allegations that the Fed engaged in social engineering on its own is false. They are made by people who have their own agenda against the Fed.