Repeal the Community Reinvestment Act
Although no one thinks the CRA is the sole cause of our current financial crisis, it looks to me as if virtually everyone thinks it’s at least a partial cause of it — and many argue that it is the primary cause. (I don’t have links for this proposition just now. Trust me. I’ll add some later.)
Surely if Congress has any interest in making sure we don’t go through another such crisis in the future, it will repeal the Act.
Right?
Here’s Cato chairman William Niskanen arguing the case for repeal . . . in 1995.
