Question by Change Now: Why do people still think the economic meltdown was caused by Jimmy Carter’s Community Reinvestment Act?
This is the most ignorant thing I have heard so far from this economic meltdown.

Don’t people know that securitization of residential and commercial mortgage and the out of control derivatives is what caused this mess.

The CRA contributed, but an extremely minor role. I heard that as little as 1 out of 20 bad mortgages were attributable to the these type of subprimes.

If someone can provide evidence to the contrary, I would be grateful.

Best answer:

Answer by Proud Texan
Fox fictional News and Rush Limbaugh told them to believe it without question.

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