"A Traiger & Hinckley LLP study of 2006 mortgage loan data suggeststhat the Community Reinvestment Act, a federal law that requires banksto help serve the credit needs of their local communities, includinglow- and moderate-income neighborhoods, deterred banks from engagingin the kinds of risky lending practices that are provoking theforeclosure crisis. Compared to other lenders in their communities, banks making loansin their CRA assessment areas (CRA Banks) were less likely to make ahigh cost loan, charged less for the high cost loans they did make,and were substantially more likely to eschew the secondary market andretain high cost and other loans in portfolio. Foreclosure rates werealso lower in metropolitan areas with proportionately greater numbersof bank branches."

Clinton did not reduce social programs. He corrected how they work. And they still need to be better designed. I always tell my friends about soviet union: when a police was knocking to the door and asking: why aren't you at work, we'll find you a job. A little extreme for a free country, but paying to lazy people isn't right ever.

"Without the CRA, the foreclosure crisis might have negativelyimpacted even more borrowers and neighborhoods," stated law firmpartner Warren Traiger. "Apparently, the CRA's mandate that banks helpserve the credit needs of their local communities consistent with safeand sound banking practices has resulted in CRA Banks making a greaterproportion of safe and sound loans than other lenders."
-- CRA Banks were 66 percent less likely than other lenders to originate a high cost loan;
-- The average high cost loan made by CRA Banks was priced 68 basis points lower than the average high cost loan originated by other lenders;
-- CRA Banks were more than twice as likely as other lenders to hold originated loans in their portfolio; and
-- The higher a metropolitan area's concentration of bank branches, the lower its foreclosure rate.

really?? police was knocking on the door??!! :-O .. funny.. (ch)
ok, you seem to be убежденный социалист.. I'll leave you alone.. (v)

again, the mortgage crisis is a perfect example of pure unregulated capitalist greed.

And except for blaming me for supporting socialist politics of Obama, I did not see any constructive proposition, actually no propositions at all.
Валя, к Вашему сведению, у этой группы всегда была репутация крайне правой и республиканско-консервативно-антисоциалистической. При этом, никто не написал ничего обидного лично Вам. Ведется нормальный разговор. Хочу обратить внимание все тех, кто относится к этой группе как однобокой.

Valentina: And I was very surprised speaking with French, Algerian and American guys working on their PhD here (they are getting their little scholarship here for doing research and teaching). All from wealthy families. All had studied politics and had read Marx and Lenin. Allwell traveled. All support socialism.
Валентина, спросите их, пожалуйста:
1. не чувствуют ли они стыд за своё богатство
2. общались ли они в детстве с детьми из низкох слоёв общества
3. куражилась ли над ними или их друзьями дворовая шпана
4. дрались ли они в детстве всерьёз
Ответ на пп. 2-4 очевиден всем. И это одно из ключевых объяснений массового тупого либерализма богатых людей (слава Богу, далеко не всех), не знающих жизни и не знающих психологии (хотя они эту психологию может быть даже и "проходили" в колледже).

There is a mental disorder component to all these liberal academicians with PhDs.
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of course, who would find the above offensive? and then we wonder why people leave.

I would not ask "why do you think the socialism is bad" to a socialist group (the result is evident: the answer: nothing; and lots of compliments to each other)
I meant "blaming" in a very soft form (there always a little blame in the situation: how can't you see what I see). If I'd feel insulted I would stop posting for sure

Валентина, спросите их, пожалуйста:
1. не чувствуют ли они стыд за своё богатство
2. общались ли они в детстве с детьми из низкох слоёв общества
3. куражилась ли над ними или их друзьями дворовая шпана
4. дрались ли они в детстве всерьёз
LOL, Since they were not raised in USSR, I am sure the answers are:
1. no,
2. not much,
3 no, they did not play on the streets to begin with
4 no