Chuck Schumer actually said...

The overwhelming majority of predatory subprime loans were made by lenders and brokers who were not, I repeat were not, subject to CRA.

Schumer clarifies that most predatory loans were made by entities not regulated by the Community Reinvestment Act.

10/16/2008

More Chuck Schumer Quotes

OK, the Fed, tell us what you are doing.

I have found that in the consumer area, the Fed and the OCC doesn't do much, although I think they have the power to do some things.

It makes your blood boil.

I remain convinced that Congress needs to act on reform.