More on the Fake "CRA Did It" Stuff

Ritholtz discovers that the Orange County Register did data-analysis on Community Reinvestment Act lending.

“Most of the lenders who made risky subprime loans were exempt from the Community Reinvestment Act. And many of the lenders covered by the law that did make subprime loans came late to that market – after smaller, unregulated players showed there was money to be made.”

The study included 55 million mortgages classified as "high-priced" by the Fed.