Freddie and Fannie, and CRA lies

[RGacky3]

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Also the Community reinvestment act NEVER EVER forced ANY banker to give a loan to someone that could'nt afford it.

[Judicator]

cool story bro

[RGacky3]

yes facts are cool.

[Comrade Hill]

CRA prevented what is known as redlining.

However, what Clinton did to try and give them the incentive to make more loans was repeal the glass-steagall act, and so that the investment banks could become more "profitable." That was not necessary.

The people who attack Clinton for the CRA are attacking him for the wrong reasons.

A lot of risky loans were still made to white families. Allowing banks to engage in racist redlining wouldn't have prevented to crisis.

However, the government still shares part of the blame for the crisis, since they are heavily involved in the housing market (well, they used to be, until they just let everything run wild)

But the capitalists will continue to blame the poor black people so they won't have to go to jail.

[RGacky3]

Exactly, so the next time a right winger says the government FORCED banks to get rich by making risky loans, ask them where, banning redlining is'nt forcing anyone to do anything.