Sold Out by Liberal Government, Not Capitalism

The CRA only applies to banks that take commercial deposits. In fact nearly 3/4 of subprime loans were originated in the secondary market which does not have CRA mandates. Additionally, the subprime loans within the primary market which has the greatest exposure to CRA and regulation in general, have a lower foreclosure rate than those in the secondary market.

Besides, if the central problem here was the CRA, Congress, ACORN, etc...this would be a crisis limitied to the US mortgage market. The reason this is an internation banking crisis sending entire nations into bankruptcy is the derivative schemes concocted by Wall Street which allowed weaknesses in the mortgage market to infect the broader international banking system.