The CRA was the fire. What the banksters and Wall Street did was pour a thousand gallons of jet fuel on it. It's also instructive to look at the intent of these parties in this collapse. Frank and Dodd's intent was to create more affordable housing for Americans who couldn't afford it. The intent of those who created the derivatives market was to knowingly abuse the system to rake in wealth for themselves. Add LIBOR into the mix and what Frank/Dodd did is the flea on the elephant's ass.
Last edited by Rohirrim; 02-15-2013 at 11:51 AM..