l****z
发帖数: 29846 | 1 CRA “Clearly Did” Lead To Risky Loans
February 9, 2013 by Rodney Graves
Democratic apologists hardest hit, Wizbang readers least surprised.
A new study by National Bureau of Economic Research confirms that the
aggressive expansion of the “Community Reinvestment Act” did indeed result
in the high risk loans which precipitated the economic crisis of 2008.
New Study Finds CRA ‘Clearly’ Did Lead To Risky Lending
By Paul Sperry
Investors Business Daily
Democrats and the media insist the Community Reinvestment Act, the anti-
redlining law beefed up by President Clinton, had nothing to do with the
subprime mortgage crisis and recession.
But a new study by the respected National Bureau of Economic Research
finds, “Yes, it did. We find that adherence to that act led to riskier
lending by banks.”
Added NBER: “There is a clear pattern of increased defaults for loans
made by these banks in quarters around the (CRA) exam. Moreover, the effects
are larger for loans made within CRA tracts,” or predominantly low-income
and minority areas.
To satisfy CRA examiners, “flexible” lending by large banks rose an
average 5% and those loans defaulted about 15% more often, the 43-page study
found.
Both the rest of the IBD article and the full study (linked above) are must
reads.
Nothing new here for those who have been paying attention, but plenty of
grist for those of us who’ve been pointing this out for more than a year. | P*********0
发帖数: 4321 | 2 Bullshit.
Show me the term that the law force lender to dole out risky loans.
result
★ 发自iPhone App: ChineseWeb 7.8
【在 l****z 的大作中提到】
: CRA “Clearly Did” Lead To Risky Loans
: February 9, 2013 by Rodney Graves
: Democratic apologists hardest hit, Wizbang readers least surprised.
: A new study by National Bureau of Economic Research confirms that the
: aggressive expansion of the “Community Reinvestment Act” did indeed result
: in the high risk loans which precipitated the economic crisis of 2008.
: New Study Finds CRA ‘Clearly’ Did Lead To Risky Lending
: By Paul Sperry
: Investors Business Daily
: Democrats and the media insist the Community Reinvestment Act, the anti-
| a**e
发帖数: 8800 | 3 Show us the reason why you think this is bullshit.
【在 P*********0 的大作中提到】
: Bullshit.
: Show me the term that the law force lender to dole out risky loans.
:
: result
: ★ 发自iPhone App: ChineseWeb 7.8
| P*********0
发帖数: 4321 | 4 You retard. It's because nobody can show me the clause in the law that
forces risky loans.
Look it up on wiki.
★ 发自iPhone App: ChineseWeb 7.8
【在 a**e 的大作中提到】
: Show us the reason why you think this is bullshit.
|
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