tag:blogger.com,1999:blog-35777384.post3253324921763604425..comments2024-03-17T19:15:51.709-07:00Comments on The Dangerous Economist: A Good Summary Of The Financial CrisisCyril Moronghttp://www.blogger.com/profile/07148864847009186694noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-35777384.post-71638180482150386812008-11-11T09:02:00.000-08:002008-11-11T09:02:00.000-08:00Blaming the CRA??"... * More than 84% of the s...Blaming the CRA??<BR/><BR/>"...<BR/> * More than 84% of the subprime mortgages in 2006 were issued by private lending institutions.<BR/> * Private firms made nearly 83% of the subprime loans to low- and moderate-income borrowers that year.<BR/> * Only one of the top 25 subprime lenders in 2006 was directly subject to the CRA;<BR/> * Only commercial banks and thrifts must follow CRA rules. The investment banks don't, nor did the now-bankrupt non-bank lenders such as New Century Financial Corp. and Ameriquest that underwrote most of the subprime loans.<BR/> * Mortgage brokers, who also weren't subject to federal regulation or the CRA, originated most of the subprime loans. <BR/>..."<BR/><BR/>http://bigpicture.typepad.com/comments/2008/10/private-sector.htmlAnonymousnoreply@blogger.com