Fed Cup semifinal: Petkovic beats Stosur, Kerber defeats Dellacqua, Germany leads 2-0
robert b: The original CRA version was started by carter and outlawed redlining and racial bias, it was a good law. In 1992 however, Clinton signed changes that were socialist in nature and indeed put quotas on minority loans. The banks FDIC insurance was the big stick as the banks that wanted FDIC insurance had to comply with the mandates. The banks also were mandated to make their minority loans public which led to liberal cronies such as ACORN suing banks that didn't meet the quotas. This is what Obama was doing during his community organizer time. Then came two more programs, The National Homeownership Strategy aimed at the GSEs and the Mortgage brokers Association agreement. These three programs forced lowered lending standards which then spread out to all mortgages in the "unintended consequences" and was the driving force in the deregulation. This all took place at a time when by law, mortgages had to be issued to anyone that could qualify. Pressure was then put on Wall street to process and sell the mortgages which is exactly what they did. The fox was invited into the henhouse and then blamed for the slaughter. Bush saw this as soon as he took office and filed 17 petitions to congress to add regs to the GSEs, only to be blocked by the democrats. In 2003, 27 conservative States Attorneys filed suit to add regs to the GSEs only to be blocked by the liberally controlled Comptroller's office. Then in 2010, democratic majority congress put forth a "so called" bipartisan report (FCIC) claiming it was all the evil banks and Wall Streets fault. Not one republican signed the report. It was the biggest cover up of our lifetime. Literally millions of families lost their lifetime savings in this failed program.