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Old 09-09-2012, 09:27 PM   #239
KC native KC native is offline
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Join Date: Feb 2009
Location: Fort Worth, TX
Casino cash: $49339
Quote:
Originally Posted by AustinChief View Post
No. I am not one of the CRA crowd. I don't think Fannie and Freddie were FORCED to be irresponsible asshats by CRA. I think they did it entirely on their own. I see no conclusive evidence that had CRA not existed, Fannie and Freddie wouldn't have done the exact same thing.

What I DO disagree with are the apologists who claim that Fannie and Freddie are blameless or such a small part of the problem that they didn't matter. That's the real BIG LIE.
Fannie and Freddie were late to the subprime game. They got into the game because they were losing market share, not because of a government mandate.

Fannie and Freddie are peanuts in the grand scheme of the financial crisis.
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