Topic: Community Reinvestment Act

A presidential proclamation regarding National Consumer Protection Week is analyzed for its rhetoric concerning the 2008 financial crisis. The hosts critique the official website, ncpw.gov, describing its design and outreach toolkits as condescending and simplistic. Reference is made to Peter Wallison’s book, "Bad History, Worse Policy," which attributes the financial crisis to government policy rather than a lack of oversight.

Testimony from the Financial Crisis Inquiry Commission (FCIC) reveals that there were 28 million low-quality mortgages in the system by 2008. The hosts discuss how the media ignored this data, focusing instead on derivatives. They attribute the housing bubble to government meddling via the Community Reinvestment Act and the repeal of Glass-Steagall.