re: #362 lostlakehiker

Same thing played out with respect to “Fair Housing”. An emotional objective, getting people into houses, trumped reason and tradition that dictated loans should not be written to borrowers who stand little chance of making their payments.

In the name of helping the poor and minorities, both were shafted royally and on top of that, the rest of the economy took a huge hit. For details, see the book by a couple of New York Times liberals, Reckless Endangerment.

This is a meme that won’t die, meant to diss the CRA.