Dems’ economic ignorance of source of financial crisis

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October 29, 2009 - Posted by crushliberalism | economic ignorance

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One domino or maybe two that are missing are a couple of Phil Grahman amendments. He introduced The Commodity Futures Modernization Act which deregulated derivatives in 1999 and lobbied for the Responsible Lending Act, billed as an anti-predatory-lending measure, but was called the “Loan Shark Protection Act” by consumer advocates in 2003).

So I agree that it started with CRA and abuse by ACORN, but the story is not quite complete.

Comment by Zaz | October 29, 2009

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Liberalism: Why think when you can “feel”?