The excellent Wikipedia section you linked to makes it crystal clear that the CRA, which passed in 1977, had no causal role in the subprime meltdown that started in 2007. That should be immediately obvious to the most casual observer, since there were 30 years between the events in question, but in case you were doubting, the article draws on a wide variety of sources of evidence.
> The excellent Wikipedia section you linked to makes it crystal clear that the CRA, which passed in 1977, had no causal role in the subprime meltdown
Where?
Here are a few quotes:
> Economist Stan Liebowitz wrote in the New York Post that a strengthening of the CRA in the 1990s encouraged a loosening of lending standards throughout the banking industry. He also charges the Federal Reserve with ignoring the negative impact of the CRA.
> Jeffrey A. Miron, a senior lecturer in economics at Harvard University, in an opinion piece for CNN, calls for “getting rid” of Fannie Mae and Freddie Mac, as well as policies like the Community Reinvestment Act that “pressure banks into subprime lending.”[60]
> asked if the CRA provided the “fuel” for increasing subprime loans, former Fannie Mae CEO Franklin Raines said it might have been a catalyst encouraging bad behavior
> CRA, which passed in 1977, had no causal role in the subprime meltdown that started in 2007.
Uhm... You know that it was "strengthened" (Expanded) by Clinton twice?
