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<blockquote data-quote="Jones" data-source="post: 910190" data-attributes="member: 4805"><p>Why is a dog not a cat, when they both have 4 legs? I'm sorry if you don't like the definition of a subprime loan, but it is what it is.</p><p></p><p></p><p>No one is suggesting that compliance is voluntary, the question is where is the regulatory language that forces banks to make loans to high risk individuals. It's not surprising that you can't find it, because no one else can either. </p><p></p><p></p><p>The only reason that we're talking about the CRA is because you brought it up as an example of government intervention that led to the housing crisis, but so far I haven't any evidence that would support that conclusion whether it be regulatory language that forced banks to make bad loans or higher default rates on CRA vs non-CRA loans. I understand that you're not making the argument about default rates but given that and the lack of regulatory language I'm not sure how you're reaching that conclusion that the CRA was a contributing factor in the housing crisis.</p></blockquote><p></p>
[QUOTE="Jones, post: 910190, member: 4805"] Why is a dog not a cat, when they both have 4 legs? I'm sorry if you don't like the definition of a subprime loan, but it is what it is. No one is suggesting that compliance is voluntary, the question is where is the regulatory language that forces banks to make loans to high risk individuals. It's not surprising that you can't find it, because no one else can either. The only reason that we're talking about the CRA is because you brought it up as an example of government intervention that led to the housing crisis, but so far I haven't any evidence that would support that conclusion whether it be regulatory language that forced banks to make bad loans or higher default rates on CRA vs non-CRA loans. I understand that you're not making the argument about default rates but given that and the lack of regulatory language I'm not sure how you're reaching that conclusion that the CRA was a contributing factor in the housing crisis. [/QUOTE]
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