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Kelly P commented on Bloomberg: 'Plain and simple,' Congress caused the mortgage crisis, not the banks

In numbers, 70% of the subprime loans were originated by organizations which were not subject to the CRA. (ComradeANon is right here.) Of those that were written by a bank subject to the CRA, they have shown a much lower default rate than those written by private mortgage originators like Countrywide or Ameriprise.

Posted on November 1st, 2011 7:17pm

 

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