0
Just before Jimmy's Community Reinvestment Act (CRA) came the Equal Credit Opportunity Act signed by Gerald Ford, pretaining to crediting and investing, the name says it all. Then directly leading to what's behind the economic crisis facing our nation right now, is not the banks. It all started in Carter's administration when he readily signed the Community Reinvestment Act in 1977. This act FORCED banks to lower standards for making riskier loans to risky investors. Then came in Bill Clinton's administration that further degraded the banks standards, which allowed for even more risky investments. It just so happens that the bulk speculating came out across on the housing market.
What else can I help you with?
What was the outcome of the 1980 presidential election between President Jimmy Carter and Ronald Reagan?
<<They where both Presidents....That's about it... >> Can't expect an intelligent answer from somebody who can't even spell "were". President Reagan, rescued the United States from the inflation and economic recession of the Carter years. By bluffing the Soviet Union into believing we had a "Starwars" antimissile shield, we won the cold war which lead to the freedom of eastern Europe and Russia. Reagan restored pride in the country and through "Reaganomics" lead this country in a period of unequalled economic growth. Carter, gave away the Panama Canal, allowed foreign immigrants who never paid into Social Security to receive benefits. (Leading to the near collapse of the system). Carter started the Community Reinvestment Act which essentially forced mortgage companies to loan money to people who could not afford nor qualify for a mortgage. (This partly why we have the problems we have today). Carter established the Department of Energy which costs us $billions to get us off of foreign oil, a total failure. To improve schools he grew the government by establishing the Department of Education which costs us $billions and once again a miserable failure.
What did President Jimmy Carter do for the environment?
President Carter attempted to solve the energy crisis by establishing the National Energy Act.
How did Jimmy Carter act as chief legislator?
The Airline Deregulation Act was signed into law on October 28, 1978. Before this piece of legislature was passed, the Civil Aeronautics Board (CAB) regulated everything from fares to schedules and all domestic air transport. In Congress and other places as well, there became a popular belief that the CAB was haulting growth and carrying out inefficient practices. Jimmy Carter proposed this legislation in aim of removing government control and opening the deregulated passenger aim transport industry to market forces. These changes were carried out very rapidly and since 1978, nine major airlines and 100 smaller airlines have gone bankrupt. www2.scholastic.com/browse/article.jsp?id=4671
What did Jimmy Carter accomplish?
Best Known As: 39th President of the U.S., 1977-81For the source and more detailed information concerning this subject, click on the related links section below this answer box.
President carter ordered a military mission in response to?
the iranian hostage crisis
What is promoted by the Community Reinvestment Act?
These laws include the Community Reinvestment Act, which promotes community credit needs.
Who pushed for passage of the national energy act?
Jimmy Carter
Where can you find details of the American Recovery and Reinvestment Act?
You can find details of the American Recovery and Reinvestment Act at Recovery.gov.
Who was the president during the Indian religious freedom act in 1978?
Jimmy Carter
How did Jimmy Carter deal with the oil crisis?
President Carter attempted to solve the energy crisis by establishing the National Energy Act.
The American recovery and reinvestment act provided support bye?
The American recovery and reinvestment act provided support by creating and saving jobs. Also, it provided relief programs.
Is the stimulus bill the same as the American Recovery and Reinvestment Act of 2009?
yes the American recovery and reinvestment act (ARRA) is the same thing as the stimulus package. the (ARRA) is the real name.
The American Recovery and Reinvestment Act of 2009 was passed in response to?
An economic crisis
What was Barack Obama's most important achievement?
he passed the American Recovery and Reinvestment Act
What does the abbreviation cra mean?
CRA can stand for a number of things. The Community Redevelopment Agency, Consumer Reporting Agency, and the Civil Rights Act are three of the most common, however.
Why was the community reinvestment act of 1977 initially considered successful?
The Community Reinvestment Act (CRA) of 1977 was initially considered successful because it aimed to combat redlining and promote equal access to credit for low- and moderate-income neighborhoods. By encouraging banks to meet the credit needs of all communities, the CRA helped increase homeownership and stimulate economic development in underserved areas. Its positive impact was reflected in the rise of mortgage lending and the revitalization of communities that had previously been neglected. Additionally, the act fostered greater accountability for financial institutions regarding their lending practices.
Why did some Americans defend the community reinvestment act of 1977 during the great recession?
During the Great Recession, some Americans defended the Community Reinvestment Act (CRA) of 1977 because they believed it promoted fair access to credit and homeownership for low- and moderate-income communities, which was essential for economic stability. Critics often blamed the CRA for contributing to risky lending practices, but supporters argued that the act was not responsible for the housing market collapse. Instead, they contended that the CRA helped empower underserved populations and counteracted systemic discrimination in lending. Ultimately, defenders viewed the CRA as a necessary tool for fostering equitable economic growth and community investment.
