Where did you get the idea that the meltdown was caused by loans to rich people in poor neighborhoods?
The law that you claim caused the Great Recession (the Community Reinvestment Act of 1977) requires only that banks make loans to creditworthy people, regardless of their street address. You keep pointing to this law as a root cause of the Great Recession - that banks were forced into making loans to people in "poor" neighborhoods. Since the only people getting loans in "poor" neighborhoods as a result of this law were creditworthy people who live there, the only possible interpretation of your claim is that you believe that these
sound loans triggered the "panic" of which you speak.
Which, of course, makes no sense whatsoever.
The problem was in variable rate mortgages to people who could not handle the payments when interest rate started to rise. The banks were required to make those loans by Federal law requiring loans in poor neighborhoods.
But the only people getting loans in "poor" neighborhoods were those who were
creditworthy, at least as required by the CRA of 1977. So, if banks were making loans to non-creditworthy people in these neighborhoods, that is a problem with the banks, not the law.
If the banks were marketing variable interest rate loans to people who could not afford variable interest rate loans, that is a problem with the banks, not the law.
If the banks could have limited the loans to less poor people, the meltdown would not have occurred.
Finally we get to your real (and astoundingly dishonest) argument.
You keep trying to make us believe that the CRA of 1977 forces banks to make inappropriate loans to non-creditworthy minorities, which
IT MOST EMPHATICALLY DOES NOT, except in your fantasies. You want banking regulation to based on your paranoid delusions, rather than reality. You want banking regulation to be based on bigotry and prejudice, rather than the creditworthiness of borrowers. You want minorities to be cut out of participation in the American economy, based on the ethnicity of the neighborhoods in which they live. I submit that that is a spectacularly bad idea for America.
You fabricate nonexistent laws so that you can blame the Great Recession on minorities and the laws which protect these minorities from injustice. You advocate abuse of these people as necessary to the economic health of (part of) the nation.
I find such thinking detestable. I do not believe it necessary to abuse any American in order for all Americans to prosper. In fact, I am quite certain that you hold back the progress of all Americans which you hold back the progress of any American. Blacks, Latinos, immigrants, and the poor did not cause the Great Recession. Protecting these people from injustice did not cause the Great Recession. It is not necessary for minorities to suffer in order for rich, white, straight, Protestant men to remain rich, white, straight, Protestant, and male.
