This article appeared in the Examiner in December of 2012, but because of the way the media has reported the events involved, it might be news to some people. Just as an aside, here is the YouTube video that explains this beautifully. I have embedded this because I am concerned that it may disappear:

Back to the Examiner. The headline of the Examiner article is, “New study confirms that economy was destroyed by Democrat politicians.” A bit provocative, but actually very accurate.

The article reports:

A new study from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left’s race-baiting attacks on the housing market (the Community Reinvestment Act–enacted under Carter, made shockingly more aggressive under Clinton) is directly responsible for imploding the housing market and destroying the economy.

The study painstakingly sorted through failed home loans that caused the housing market collapse and identified an overwhelming connection between them and CRA mortgages.

The article concludes:

-Even The New York Times admitted that there is “little evidence” of any connection between the “Republican” deregulation measures Obama blames, like the Gramm-Bleach-Liley Act (signed into law by a Democrat), and the collapse of the housing market.

But non-Fox media have spent years deliberately and relentlessly inoculating people against the facts, training them to mindlessly blame Bush for being in charge when Democrat policies destroyed the economy. So here we sit, to this day, still watching Obama excuse and shrug off endless economic failures, illegal government takeovers and utter national bankruptcy with zero accountability.

It is important that voters understand what happened here. When you continue to lend money to people who can’t afford to pay it back, you eventually run into problems getting the money back. The Democrats phony charges of racism hurt black and white people and rich and poor people. Their policies were bad for everyone. Unfortunately, Democrats are again putting pressure on banks to relax their lending standards–running the risk of repeating the whole process. It wasn’t the big banks that caused the problem–it was the government and organizations like ACORN putting pressure on banks to make bad loans. Many of the major players in this scandal made millions and moved on to jobs in the Obama Administration.