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View Full Version : Housing crisis was GW's fault



pooltchr
10-04-2010, 11:35 AM
http://finance.yahoo.com/news/Racial-predatory-loans-fueled-rb-1069330785.html?x=0

The U.S. economy is still struggling with the effects of its longest recession since the 1930s, which was triggered in large part by the housing crisis, which was in part triggered by the crash of the subprime loan market.

Subprime lending refers to loans made to consumers with<span style='font-size: 17pt'> poor credit and others considered higher risk.</span> They tend to have a higher interest rate than traditional loans.


"As a result, <span style='font-size: 17pt'>from 1993 to 2000, the share of subprime mortgages going to households in minority neighborhoods rose from 2 to 18 percent</span>," Massey and Rugh said.



<span style="color: #FF0000">Wasn't it the CRA that required lending institutions to expand into low income areas with more home loans?
Wouldn't loans on homes in low income areas be considered higher risk?
Are we supposed to be surprised that the forclosure rate in these areas is higher than average?

Oh, yeah...and who was POTUS between 1993 and 2000?????????????

Steve</span>

Sev
10-04-2010, 12:09 PM
Dont expect an answer Steve. Your on ignore you know. /forums/images/%%GRAEMLIN_URL%%/wink.gif

pooltchr
10-04-2010, 02:29 PM
I'm not on ignore. They read every word. The fact that they won't respond just tells me my posts are making them think about things that make them uncomfortable.

Steve

LWW
10-04-2010, 04:19 PM
No, sadly I don't think it is.

What it makes them do is rattle their cages for more spoonage.

LWW