I agree wholeheartedly. Not just as the author of the original Blame Game article (I think blaming CRA is just plain silly but lots of folks seem to be doing it) but as one of those folks who got a conventional mortgage, put a down payment on a house, made payments exceeding the amount due, doesn't have a credit card and suddenly is struggling to make ends meet because so many of my clients are (were) in the financial services industry. Oh, and by the way my first business loan was a CRA loan, which I repaid, in full, before it was due.
Thanks, Jim, for bringing up the option ARMs, I'd forgotten about those.
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Thanks, Jim, for bringing up the option ARMs, I'd forgotten about those.