Most subprime lenders weren't subject to federal lending law - The Orange County Register
Hello, I find your posts rather stimulative. I just want to bother you on one issue;
"The idea some people want to push, that it all happened because the "Democrat party" intimidated banks with false charges of racism and undermined the mortgage industry by forcing them to lend to people who weren't creditworthy is just what you think it is: partisan, ideologically biased, and flatly contradicted by the facts."
I am a Democrat (well, vote-wise. Actual orientation is Orthodox Marxist but that's another story.)
While I agree they the animus *may* not have been racist, it's an absolute guarantee that Left-wing party policies poorly assumed Blacks (read all minorities) and Whites were equal credit borrowers, they are basically not on average equal lendees. By forcing a bank to make a number of loans equivalent to the white population (red lining) in proportion they compelled them to lend to sub-prime targets (i.e. most minorities besides Asians).
Living in Gods country