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

The following is John Carney's explanation of how he now believes the Community Reivestment Act of 1977 helped lead to the housing bubble.Here's How The Community Reinvestment Act Led To The Housing Bubble's Lax Lending: "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."It is