Here's How The Community Reinvestment Act Led To The Housing Bubble's Lax Lending

Here's How The Community Reinvestment Act Led To The Housing Bubble's Lax Lending - Business Insider:
"...Contrary to my initial conclusion, the evidence is overwhelming that the CRA played a significant role in creating lax lending standards that fueled the housing bubble. 
Once I realized this, I had to abandon my suspicion that the anti-CRA case was a figment of the rhetoric of Republicans attempting to distract attention from their own role in the mortgage mess.

So I laid out the facts and arguments that had convinced me to switch sides in the CRA debate. 
...If you carefully run through these posts and the accompanying comments, I think you'll see that every argument raised by the "Defend CRA at all costs" crowd has been refuted.
For people with less time on their hands, here's a quick guide to the main points raised by the CRA defenders and the arguments that refute them. If I've left out any salient points, please let me know and I'll add them to the list.

Let's begin:

• How could a piece of 1977 legislation be significant to the deterioration of mortgage standards 25 years later?
Read on and see how badly we've been screwed by our own government.