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SUNDAY, NOVEMBER 8, 2009
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Subprime mortgages aren't the only problem.(Improving Performance)(americans buy homes, instituting regulations )

Article from: New Hampshire Business Review Article date: November 7, 2008 Author: Bourque, Ron

We never seem to learn. The S&I debacle isn't that distant a memory, and we're repeating it on an even grander scale. In fact, this time we'll be lucky if our entire financial infrastructure doesn't crumble.

In 1977, President Carter signed the Community Reinvestment Act to help poorer Americans buy homes, instituting regulations that effectively forced financial institutions to give mortgages to people who really couldn't afford them. In 1995, President Clinton put that act on steroids. Although both presidents may ...

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