By Jimmy!

Just tell any Republican who tries to blame the financial collapse on Carter's Community Reinvestment Act of '77 (and therefore on Democrats) to go review their facts (datas from the Federal Reserve Board):-

- More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions

- Private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year

- Only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that's being lambasted by conservative critics

-> Subprime lending offered high-cost loans to the weakest borrowers during the housing boom that lasted from 2001 to 2007. Subprime lending was at its height from 2004 to 2006

--> The "turmoil in financial markets was triggered by a weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007," the President's Working Group on Financial Markets reported Friday