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Good Read. Learn Something!

THE REAL SCANDAL: HOW THE FEDS INVITED THE MORTGAGE MESS

The Boston Fed ruled that participation in a credit-counseling program should be taken as evidence of an applicant's ability to manage debt.

On the Web, you can still find CRA [Community Reinvestment Act] loans available via ACORN with "100 percent financing . . . no credit scores . . . undocumented income . . . even if you don't report it on your tax returns."

Credit counseling is required, of course.


All this mess was done in the name of "nondiscriminatory lending". Now, the banks are the evil guys, and the politicians are the white knights who are going to rescue all of us.

Don't you guys ever learn?

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