What’s interesting about this video is that it blames the Community Reinvestment Act for the sub-prime crisis, yet even Business Week (by no means a liberal magazine) acknowledges that the CRA is not to blame. The majority of sub-prime loans were made by institutions who are not even regulated by the CRA. And Robert Gordon, a senior fellow at the Center for American Progress, even said “It’s telling that, amid all the recent recriminations, even lenders have not fingered CRA. That’s because CRA didn’t bring about the reckless lending at the heart of the crisis.” http://straighttalkonmccain.blogspot.com/
What's interesting about it is the promises Obama made to ACORN and the commuactivists.
BO will tell any crowd anything he thinks they want to hear but this video certainly shines yet another light on his philosophies and tendencies.
One other comment for "Mr. Straight talk", 20% of the CRA loans are in default. That's definitely a factor.
Amazing that you found this video. I was just watching ABC News and they did a story on Acorn and showed McCain speaking at a rally in Miami in 2002. Too bad they couldn't find this one.
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