National syndicated columnist Froma Harrop says they're loosening the rules for mortgages once again.
She also says,
"But before going on, let's properly assign blame for the recent financial mess. It was not, as many on the right insist, programs forcing upstanding bankers to lend money to marginally qualified borrowers — read "minorities."
By the late '90s, half of subprime loans were made by mortgage companies not subject to the much-maligned Community Reinvestment Act. And in any case, the George W. Bush administration gutted the CRA regulations in 2004."
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