Posted by big fred on April 11, 2008 at 14:15:00 from (130.76.32.144):
In Reply to: OT - Economics posted by Spook on April 11, 2008 at 13:12:21:
The current financial (mortgage) problems are a result of the "Community Reinvestment Act of 1977" which mandated that lenders issue more mortgages to high risk borrowers. The CRA was amended in 1995 to make things even worse, then again in 2005. The government, thru it's social engineering attempts, created the problem, I don't see why anyone should believe they can fix it thru even more idiotic policy.
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