[thechat] Hiding from Elections Now

[erik mattheis]

Sorry Matt, but you're continuing to posts "facts" at odds with those
generally in agreement to mesh with everyone elses' reality -
http://www.federalreserve.gov/dcca/cra/

"Nor does [The Comminuty Reinvestment Act] require institutions to make
high-risk loans that jeopardize their safety. To the contrary, the law makes
it clear that an institution's CRA activities should be undertaken in a safe
and sound manner."

I'm getting the impression you get your news from Neil Boortz? If not, where
*did* you "find out" that CRA forced banks to make risky loans?

- Erik

On Mon, Oct 27, 2008 at 8:55 AM, Matt Warden <mwarden at gmail.com> wrote:

> There are effectively
> quotas to meet to avoid punishment and maintain the appearance of
> fairness. Just as with the unintended consequence of affirmative
> action where less qualified individuals are often taken over more
> qualified individuals simply due to their minority status, the fact
> that individuals are from low and middle income areas influenced the
> loan evaluation process such that individuals who would not normally
> qualify for the loan did get the loan.



-- 
Erik Mattheis

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