LegendKiller
Lifer
- Mar 5, 2001
- 18,256
- 68
- 86
CRA, keeping derivatives unregulated and many other political factors contributed to the housing bubble. I'm not saying it was entirely their fault...my point is that there's lots of blame to go around.
http://en.wikipedia.org/wiki/Causes_of_the_United_States_housing_bubble
Edit: Damn I'm way off-topic! Sorry about that!
Blaming CRA is a joke - it wasn't a meaningful amount of mortgages.
This wasn't just a political thing but I would attribute a lot of it to that.