Ok … this may very well be the quote of the day. Cavuto interviewing Acorn Housing Director Mike Shay on it’s role in the sub-prime mortgage mess. Shay claims only a few such CRA loans are bad (more on that below) and the ones that did go bad were the result of predatory lenders not homeowners who couldn’t afford to pay. That sets Cavuto off.
BTW, Wall Street Journal reporter Steve Moore says the number of bad CRA loans is much higher than claimed. His research says 20%.
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