Subprime targets: Why everything pundits and politicians are telling you about the CRA is wrong

Conservative columnists, pundits, bankers, and politicians like Minnesota’s own Michele Bachmann have taken to blaming the subprime fallout and subsequent credit crisis on the Carter-era Community Reinvestment Act. But housing and civil-rights experts say they’re just plain wrong. And if Minneapolis doesn’t take steps to fix the problem soon, things will get a lot worse.