[GOPJ]

The federal government therefore had to intervene. The Clinton administration revived and enforced the Act in the1990s with vengeance; and with a little help from groups like ACORN, minority loan approvals reached all time highs.

Application of the Act was done in the name of the right to "affordable housing." Affordable housing really meant that everyone has a right to get a mortgage on a home. At the threat of ACORN members getting crazy in bank lobbies and with the coercion of federal law, traditional qualifications for getting loan approvals (verifiable income levels, sufficient down payments, standard credit histories, etc.) were thrown out the window.

Finally - someone has written truth about the "why" of the housing crisis...

[FromLori]

Yes all except I do not believe it was racist not to give loans to people who weren’t qualified and of course I would think you agree. $6 Trillion of these forced bad loans were kept out of the budget and that was last February can you just imagine how much more since then have fallen that it looks like we are now going to have to pay for?

http://www.businessweek.com/news/2010-02-01/obama-keeps-fannie-freddie-off-u-s-budget-counts-dividends.html

Will All of America End up Looking Like Detroit?

http://american3p.org/establishment-news/will-all-of-america-end-up-looking-like-detroit/