The lawyer who wrote this critique and analysis of the CRA seemed to waffle between trying to shine a good light on it and finding fault.<quoted text>Too bad that you didn't bother reading that link__or maybe you did and just lack the sort of comprehensive skills needed to make sense of it.
You're a real trip babe. Dumber than dirt.
But you obviously didn't read this part:
"Although reasonable people can disagree about how to interpret the evidence, my own judgment is that the worst and most widespread abuses occurred in the institutions with the least federal oversight. The housing crisis we face today, driven by serious problems in subprime lending, suggests that our system of home mortgage regulation, including the CRA, is seriously deficient."
He went on to say:
"We need to mend what my friend, the late Federal Reserve Board Governor Ned Gramlich, aptly termed “the giant hole in the supervisory safety net. Moreover, many market-based systems designed to ensure sound practices in this sector—broker reputational risk, lender oversight of brokers, investor oversight of lenders, rating agency oversight of securitizations, and so on—simply did not work."