The economic collapse of 2008 was driven largely by the lending practices – making loans to people who can’t pay them back – supported by Barney Frank and Chris Dodd. They were great supporters of the Community Reinvestment Act signed into law under President Carter and reawakened under the Clinton administration. The goal of the law was to create means for lower income individuals to own homes – which, as it turns out, flew in the face of the laws of economics. If you can’t afford something and you borrow money to purchase it, you’re going to be in…

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