Joe Mason
Joe Mason: Goldman’s First Community Reinvestnment Act (CRA) Holdup
Submitted by rc whalen on 12/01/2009 10:51 -0500Late last week it was reported that Goldman made its first commitment to Community Reinvestment Act (CRA) lending. For the uninitiated, this may seem like a good thing. Indeed, the papers pointed to the benefits of an additional $500 million in small business loans in today’s economy. But to those experienced in the industry, something more sinister may be afoot. Such commitments rarely mean anything, and are usually merely the publicly-visible component of a successful community organizer holdup scheme.
