Just before Jimmy's Community Reinvestment Act (CRA) came the
Equal Credit Opportunity Act signed by Gerald Ford, pretaining to
crediting and investing, the name says it all. Then directly
leading to what's behind the economic crisis facing our nation
right now, is not the banks. It all started in Carter's
administration when he readily signed the Community Reinvestment
Act in 1977. This act FORCED banks to lower standards for making
riskier loans to risky investors. Then came in Bill Clinton's
administration that further degraded the banks standards, which
allowed for even more risky investments. It just so happens that
the bulk speculating came out across on the housing market.