How the Community Reinvestment Act Created the Housing Bubble

It is good to read in one place on how groups like ACORN and the Carter experiment known as the CRA planted the seeds that formed into the mortgage bubble. This was an interesting fact that everyone should know:

Of course, these loans weren't actually safe, and as far back as the early 1990s it was clear that mortgages made under affordable housing standards had a significantly higher default rate. But the facts weren't allowed to get in the way of the housing juggernaut, and so the quantity of risky loans increased. By 2005 HUD required that 45 percent of all loans purchased by Fannie Mae and Freddie Mac had to be from low and middle income borrowers, with no sense whatsoever of whether such a quota was advisable or doable.

Now that we see the extent of ACORNs "counseling" we can see that most of these buyers probably duped by these "counselors" trying to game the system. I mean those ACORN workers were talking about claiming child sex slaves as dependents like they were ordering take-out food or something. I feel even worse for low income neighborhoods seeing as people like ACORN are their advocates.