Embarrassingly Inaccurate

Rating: 1/10 (24 February 2016)

A vapid, preachy and historically false movie that is based upon fiction that the uneducated and uninformed will obediently lap up.
The Community Reinvestment Act of 1977 added thousand upon thousands of pages of regulations that forced banks to lend money to low-income areas. Yes, forced.
This is the typical liberal prescription for all the ailments of society: Throw logic and reason out the window, and use a warm and fuzzy touchy-feeling legislation to try to fix an imagined injustice.
The Federal government (through the FDIC and FFIEC) required banks and mortgage companies to advertise and make super-low mortgage loans to people who should not have been buying a house in the first place.
If the banks refused to take on these dangerous loans, they risked steep fines, being audited, and even being taken over by the government while that particular bank was being given (yes, given) to another bank in the area.
So what did banks do? They made loans to everyone. What did that do? Made house prices SOAR. Which did what? Turned a $50,000 house into a $150,000 house.
Now you have a family, who barely had any money to being with, trying to pay a $1,000 mortgage when their total income was maybe twice that. Their home gets re-assessed by the government, then their property taxes skyrocket.
Why? Because the leftists and liberals said 'everyone deserves the right to own a home'.
People began defaulting on loans. Missing payments. Houses were repossessed. The market crashed.