re: #472 cliffster

Sorry, I don’t think it does depend on who you listen to; I think that there is an objective reality, and that, from every serious study and examation I’ve seen, that the lenders were overlending and packaging the loans in complex packages that hid the risk from investors who blithely assumed the risk assessment had already been done. I have not seen any credible reports that say that the CRA loans were a signfiicant driver.

Stuff like this:

Researchers compared the default rate (90-day delinquency) within two years of origination. Borrowers with comparable characteristics who had subprime loans were three to five times as likely to go into default as those with CAP loans, the study found.