tag:blogger.com,1999:blog-4223398383609158624.post5596439165452542788..comments2024-02-24T00:37:43.087-05:00Comments on The Other McCain: How Clinton caused the current crisisRobert Stacy McCainhttp://www.blogger.com/profile/03084541621503669804noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4223398383609158624.post-73663950249018290942008-09-19T00:06:00.000-04:002008-09-19T00:06:00.000-04:00I don't think that the City Journal article, scary...I don't think that the City Journal article, scary (and accurate) as it is, closes all the open threads.<BR/><BR/>Let's say that the national total Bank committment to ACORN-like front groups is $300Bn. Let's postulate a 10% foreclosure rate.<BR/><BR/>That's $30Bn/year. And if the banks only recover twenty-five percent of the initial mortgage on the sale of the property, they're writing off $22Bn/yr.<BR/><BR/>That's a long, long way from the Fan/Fred dollar problems, my friend.<BR/><BR/>Of COURSE I'm not defending the 'front-group' lenders, nor the CRA's general thrust.<BR/><BR/>But the article does not 'splain Fan/Fred.Dad29https://www.blogger.com/profile/08554276286736923821noreply@blogger.com