New Study Finds Democrats Fully to Blame for Subprime Mortgage Crisis that Caused 2008 Financial Disaster

The Gateway Pundit  "In his early activist days, Barack Obama the community organizer sued banks to ease lending practices.

"State Sen. Barack Obama and Fr. Michael Pfleger led a protest against the payday loan industry demanding the State of Illinois to regulate loan businesses in January 2000. During his time as a community organizer Barack Obama led several protests against banks to make loans to high risk individuals."

Democrats and the media insist the Community Reinvestment Act, the anti-redlining law beefed up by President Clinton, had nothing to do with the subprime mortgage crisis and recession.
But a new study by the respected National Bureau of Economic Research finds, “Yes, it did. We find that adherence to that act led to riskier lending by banks.”....More...

Hat tip to The Infidel Bloggers Alliance

For you low-information voters who re-elected Obama, here is a summary of this story:  Obama and other Democrats applied pressure on the mortgage industry. I believe charges of "racism" were leveled and the industry buckled, giving loans to people who went in knowing they could not pay for these.
 In spite of warnings from the Bush Administration, the housing industry collapsed, causing the US economy to fall into what is called "the Great Recession" at the end of the Bush Administration. This led to the mess that Obama has repeatedly said he "inherited". Obama has pushed this "inherited" excuse for over four years (accurately enough, save for who caused it), blaming it on President Bush, unfairly.
All this has been absorbed by the low-information electorate (watchers of The View,Oprah, People Magazine readers, Obamaphone recipients,and all TV shows into the late evening,  et al) who number about fifty million.
I'm not sure news people on the networks, CNN and MSNBC could be classified as "low-information", but as collaborators. Rather than being "low-information" people themselves, they helped create those low-information voters.
I believe it is accurate to say that President Bush inherited this economic mess from Barack Obama. Obama is now doubling down on these actions, making them even more draconian, so we can expect the next administration to inherit a big mess from all this. TD