patrick.net

http://research.stlouisfed.org/wp/2012/2012-005.pdf

finehoe says

http://research.stlouisfed.org/wp/2012/2012-005.pdf

Fuck you here is a link with 30 pages of yik yak.

Where they say:

"Although we find evidence that the GSEs bought significant quantities of subprime securities, our
results indicate that these purchases were not directly related to affordable housing mandates"

They are missing the point I'm making in that the standards were raised across the board.

They are also missing the point that the CRA indirectly created more lending to unqualified people across the board, because there was no risk for the bankers, as the government tacitly and by implication of the system, "fragile by design", removed risk by backstopping any such loans.

The reason the banks did this, beside the obvious reason to make more money, was to further grow and centralize banking.