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February 16, 2011 - Harry Eagar
Michael Lewis ("Liar's Poker," "The Big Short" etc.) has a sarcastic opinion piece at Bloomberg about the cause of the financial collapse. He blames you. Not really.
"Frankly, the commission’s report does nothing to improve public morals. In discussing the role of the 1977 Community Reinvestment Act, for instance, the report notes that the loans made by big banks to meet the act’s requirements -- that is, loans to poor people in crap neighborhoods -- outperformed, dramatically, the general run of subprime loans."
He's not kidding there.
Everything you've been told about ACORN and the Community Reinvestment Act? All garbage.
But you already know that, because RtO has been saying so for years.
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