Perhaps those pushing the inane theory that the Community Reinvestment Act (and other efforts to provide affordable credit to credit-worthy residents of low-income neighborhoods) is responsible for the financial meltdown can take a crack at explaining the connection between the CRA and this sort of behavior by credit rating agencies.

Eduardo M. Peñalver is president of Seattle University. The views expressed in this piece are his own and do not represent the views of Seattle University.

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