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Community Redevelopment Act vs Community Reinvestment Act?

1- Can someone provide me with a link of the Federal Redevelopment Act 2- Even if they meant Reinvestment Act, Can someone provide a link to how it began under Clinton and not in 1977, AND a link on how the Act was the primary cause of the housing bubble. *No blog or opinion links please, this is based off another answer. Thank-you BadWolf, while it does say FannieMae was experiencing pressure form the Clinton Admin and its stockholders it also states "In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans." Which still doesn't quite explain how an act in 1977 was the sole cause for economic breakdown in 2007-2008-now, I wont deny it playing a fraction of the problem, but it is the conservative argument for the whole mess. Not to mention the 77 Act forced no bank to give loans to people unable to pay. I am seriously trying to understand the argument from Con side.

Public Comments

1. Do you consider this as an opinion? http://www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html Edit: Well, you can add the repeal of the Glass-Steagall Act, again under Clinton, and the strong defense of the democratic party EVERY time the reps (and Clinton too) tried to regulate Fannie and Freddie. 2004 http://www.youtube.com/watch?v=_MGT_cSi7Rs 2008 "I think this is a case where Freddie Mac and Fannie Mae are fundamentally sound. They're not in danger of going under. They're not the best investment these days from a long term standpoint going back. I think they are in good shape going forward. They're in the housing market. I do think their prospects going forward are very solid." -- Barney Frank, Chairman of the House Financial Services Committee One month after they went bankrupt 2008: Clinton blames the democrats for the house mess http://www.liveleak.com/view?i=647_1230447448 P.S. I have this link too, but it is an unknown site and i have not had time to confirm its claims. http://sweetness-light.com/archive/bush-called-for-reform-17-times-in-2008
2. It is beyond absurd to think government regulations was the cause of the recession. This was about financial market deregulation. Bank and lenders didn't have a gun held to their head to make those risky loans, they did it because no regulations STOPPED them and because it was profitable. Then the tax payers had to bail them out and homeowners are stuck with loans they never should have got from the gambling banks.