6 of 11 Racist Lies Republicans Tell to Avoid Blaming Wall Street for the Financial Crisis.
The CRA is just another failed liberal handout program.
No. The benefits of CRA have been substantial. Robert Rubin recently estimated that the law has channeled upwards of one trillion dollars into distressed neighborhoods across the country -- including both inner cities and rural areas without much access to investment funds. In these areas, home ownership is up -- and with it, the local tax base, which means more parks, more cops, more street repairs, and so on. There's more decent rental housing, too, because landlords can get loans for upgrades and improvements.