Comments on: CRA Thought Experiment

By: VennData

VennData — Fri, 10 Jul 2009 19:37:02 +0000

Carter’s Habitat for Humanity building caused the oversupply of housing I tell you. It was Carter!

By: Scoring the Barry Ritholtz-John Carney CRA debate - The Curious Capitalist – TIME.com

Tue, 30 Jun 2009 21:53:14 +0000

[...] I like this “thought experiment” by Barry on what the world would look like if CRA were in fact behind the [...]

By: Who is to Blame, 1-25 | The Big Picture

Who is to Blame, 1-25 | The Big Picture — Mon, 29 Jun 2009 14:08:50 +0000

[...] the thought experiment we did last week, we looked at what the world would look like if the CRA was a “prime cause [...]

By: Alas, a blog » Blog Archive » Link Farm

Alas, a blog » Blog Archive » Link Farm — Mon, 29 Jun 2009 07:52:03 +0000

[...] No, the financial crash was not caused by the Community Reinvestment Act. It really wasn’t. [...]

By: Willful Idiocy « Weilerblog

Willful Idiocy « Weilerblog — Sun, 28 Jun 2009 09:12:10 +0000

[...] Ritholtz of The Big Picture goes off on Carney here with a “CRA Thought Experiment”: In reality, the precise opposite of what a CRA-induced [...]

By: What CRA did do « Alyssa Katz

What CRA did do « Alyssa Katz — Sat, 27 Jun 2009 12:56:37 +0000

[...] zero marketing budget, I can assure you of that” Also see CJR’s Ryan Chittum and Barry Ritholtz at The Big Picture with their own efforts to put the vile “CRA did it” myth to a quick [...]

By: Lax Lending Standards: Blaming the CRA Doesn’t Add Up - Daily Buzz

Lax Lending Standards: Blaming the CRA Doesn’t Add Up - Daily Buzz — Sat, 27 Jun 2009 06:00:27 +0000

[...] Carney has posted three ways the CRA caused lax lending. Reminds me of last fall. Barry and Felix have already responded; I want to address Carney’s points more [...]

By: CJR, Ritholtz, Salmon all take Carney to the woodshed « Stocks Go Up. Stocks Go Down.

Sat, 27 Jun 2009 02:05:45 +0000

Salmon’s posts are here and here. Barry Ritholtz of The Big Picture goes off on Carney here with a “CRA Thought Experiment” Daniel Gross took a whack at the CRA speciousness back in October over at Slate. Federal Reserve Governor Elizabeth A. Duke talking to the American Bankers Association in February, noting that a tiny minority of loans were under the CRA Paul Krugman quotes from the administration’s new white paper on financial reform The Orange County Register’s Ronald Campbell had an illuminating story in November looking at the CRA question. Last year, the law firm Traiger & Hinckley LLP found that (PDF) CRA banks were 58 percent less likely to issue high-cost loans And another Federal Reserve Governor, this time Randall S. Kroszner, who gave this speech in December (debunking the CRA link) How about more from the Fed? This time from the Minneapolis bank Here’s Ellen Seidman, former head of the Office of Thrift Supervision wrote against the CRA haters here, calling it “patent nonsense.”

By: cvienne

cvienne — Fri, 26 Jun 2009 21:54:48 +0000

@Thor

“It is technically impossible for China to bring 1.3 billion people into the middle (consumer) class.”

—

It’s kind of late in th game to thread this…but I’ll go ahead anyway

Right on my friend…

This is a theme that I hammer all the time…Actually, I would describe it as RESOURCEFULLY IMPOSSIBLE (rather than technical), but I notice that you more or less say the same thing…

Our government (and the governments of the world), are going to have to start understanding RESOURCES in terms of their ECONOMIC agendas if we want to take a step forward…

My biggest problem with the present Administration is that they seem to want to turn the clock back to 2007 (or 1995), or whatever…Doing so would require resource depletion & destruction on a global scale…

It is simply not viable…

So either we change out consumption patterns…OR…

By: westiepup

westiepup — Fri, 26 Jun 2009 21:44:02 +0000

There are many well-written discussions of the effect of the CRA in this blog. I have a simple comment:
the right-wing blowhards who blame the CRA for the economic crisis should ask their Republican friends who controlled Congress from 1995 to 2007 why they didn’t get rid of this evil idea.