Quote:
Originally Posted by cologal
Now let me get this straight...The Community Reinvestment Act was passed in 1977...so it took 31 years to get to a crisis?
Didn't the Repubs have total control in 2003? I believe they did.
There is plenty of blame to go around.
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Did you do ANY research at all ? Original bill passed in 70's....revised by President Clinton in 1995...reviewed by law since President Clinton's revision was very controversial...and in that reveiw President Bush tried to tighten the oversight...it was laughed out by the Democrats ! And I mean what I read tonight....Barney Frank even made fun of the President !