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Author: subfusc Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 62007  
Subject: Re: Another Reason for Regulation Date: 12/12/2008 2:42 PM
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barney Franks (D) who let Fannie and Freddie go into freefall by requiring them to lend to 'disadvantaged minorities' with loans that everyone knew would never be paid back?

Check your facts t, loans made under the Community Reinvestment Act (CRA) (which has been around since the 1970's by the way) have performed better than non-CRA subprime loans.

http://boards.fool.com/Message.asp?mid=27262053
http://money.cnn.com/2008/09/10/news/newsmakers/buffett_clay...
http://boards.fool.com/Message.asp?mid=27262297
http://www.traigerlaw.com/publications/traiger_hinckley_llp_...

A much stronger case can be made that failure to rein in unscrupulous brokers and lenders, and failure to regulate financial instruments tied to the mortgage industry are to blame.
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