Right-wingers have been desperate to pin the tail of financial chaos on the Democratic donkey. The favored target is the Community Reinvestment Act, a Carter-era law amended by Clinton that is supposed to have inspired the whole sub-prime lending market.
so please check your facts at:
http://www.newsweek.com/id/162789
http://bigpicture.typepad.com/comments/2008/10/misunderstandin.html
for example:
" The four biggest problem areas for housing (by price decreases) are: Phoenix, Arizona; Las Vegas, Nevada; Miami, Florida, and San Diego, California. Explain exactly how these affluent, non-minority regions were impacted by the Community Reinvesment Act ?"
IMHO, conspiracy theories are the junk food of the mind.
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