You've run several letters blaming the Community Reinvestment Act for most of our economic woes. This explanation smacks of Limbaugh Delusion Syndrome, in which all our problems must be "something them liberals done."
Clinton and the Bushes together gave us our present trade policies, which put our working and middle class in direct competition with Asian labor markets.
Go farther back. Reagan's deregulation of financial institutions in 1982 was followed by the savings-and-loan debacle of 1989, massive investment fraud cases like Boeskyk, Milken and Keating, and the Enron implosion.
Credit default swaps, which killed off Lehman in the 2008-09 crash, used to be illegal. When banks and investment conglomerates game the market until it collapses, there is no meaning to free trade and free markets.
Serioiusly, Tea Party people, if you think homeowner loans in the inner city brought us to the abyss, and that's the whole story, take the trip to Tampa. Get a real estate agent to show you the acres of million-dollar foreclosed homes. You'll have lots from which to choose.
Our economy crashed and we're in a slow recovery. Fixating on one narrow chisel point of blame accomplishes nothing. We must look at it all: Sensible oversight of Wall Street and banks, a re-appraisal of our crushing trade deficit and a sustainable balance of spending and taxation. If the last item seems illusory, remember we had a $70 billion budget surplus 12 years ago. The president was Bill Clinton.