This is good news.

Everybody knows the role the Community Reinvestment Act (CRA) played in the housing meltdown last year. While perhaps not the main culprit, the CRA nonetheless played a major role by forcing banks to lend money to people who were financially unable to repay the debt. It is the biggest reason why foreclosures were as numerous and widespread as they were. 

So in the wake of the ACORN racketeering scandals, some Republicans may have woken up to the reality and are clamoring for either a repeal or blocking Democrat efforts to expand the program:

The 1977 Community Reinvestment Act (CRA) was intended to end "redlining," a practice in which banks in effect walled off many inner-city neighborhoods from mortgage loans. But some GOP lawmakers say it has outlived its purpose and is being used inappropriately by ACORN to shake down banks for money. They want to repeal the law, scale it back or at least block a Democratic proposal to expand it.

This would certainly be a welcome move if it happens. I'm not holding my breath simply because I don't think the GOP has the votes to do any major damage. But that shouldn't stop them from getting the message out there that Barney Frank is a blubbering buffoon and that the CRA does far more damage to working families by enticing them into huge mortgages they can't afford.

Russ