re: #653 Rightwingconspirator

I wonder if these numbers are right from Wiki
“The year before the repeal, sub-prime loans were just five percent of all mortgage lending.[citation needed] By the time the credit crisis peaked in 2008, they were approaching 30 percent.[citation needed] This correlation is not necessarily an indication of causation however, as there are several other significant events that have impacted the sub-prime market during that time. These include the adoption of mark-to-market accounting, implementation of the Basel Accords, the rise of adjustable rate mortgages etc.[20]”

Most subprime lenders weren’t covered under CRA
Wall Street created the demand for riskier loans
Regulatory oversight and accountability was missing
The majority of subprime loans went to white borrowers
55 percent of higher-priced loan originations went to middle- and upper-income borrowers or borrowers in middle- and upper-income neighborhoods in 2005 and 2006.

Source
Source

The idea that poor illegal aliens Hispanics (hi, Malkin!) caused a worldwide economic crash just isn’t supported by the facts.