Are the people in congress this stupid? Really?

[chestnut]

Congress is now trying to expand the CRA.
One of the contributing factors to the mortgage meltdown is the "soft" lending practices the banks were forced into by the Govt.

Now they are at it again.

Most of the people who were lent to under this guise didn't fare so well when they couldn't pay.

So did they reallly get help? Maybe in the short term, but in the long term, govt should not be enabling this type of action.

Normally, people save and save and sacrifice, to come up with a down payment. Along with that people make good decisions.

The CRA bypasses those realities and says that everyone should get what they want whether or not hey earned it.

That's a crock.

Home ownership should not be a 'given' right. It is something that is earned.

 

[AtheismIsReality]

Congress is now trying to expand the CRA.
One of the contributing factors to the mortgage meltdown is the "soft" lending practices the banks were forced into by the Govt.

Now they are at it again.

Most of the people who were lent to under this guise didn't fare so well when they couldn't pay.

So did they reallly get help? Maybe in the short term, but in the long term, govt should not be enabling this type of action.

Normally, people save and save and sacrifice, to come up with a down payment. Along with that people make good decisions.

The CRA bypasses those realities and says that everyone should get what they want whether or not hey earned it.

That's a crock.

Home ownership should not be a 'given' right. It is something that is earned.

What was the percentage of loans that failed due to loans that were 100% CRA compliant?