Why do some Americans think Frank-Dodd "forced" banks to give risky loans?

I actually stood in line with one of these idiots at of all places the unemployment office waiting for it to open. He went on for twenty minutes about how everything that happens is the fault of Obama and liberal policies forcing banks to lose and / or give away money and preventing businesses from hiring or even operating with prohibitive regulations then he said we should learn how to conduct a more business friendly environment from China with more deregulation, privatization and free trade. Yes, that's right, he said all this WHILE WAITING TO APPLY FOR HIS UNEMPLOYMENT CHECK! Do you really need to ask? We all know where these people get these ideas, right?


EDIT: Wow, awesome how all the cranks have coordinated their 'CRA' talking points. Great organization today, kids! (-and no, you're not mistaken. I have heard the same continuing talking point applied to Dodd-Frank in fact that was precisely the message conveyed by my unemployment line waiting kook acquaintence. Typical conservative subject evasion; CRA / Dodd-Frank, six of one / half dozen of the other, the subject in question is the general practice of blaming liberal policies for failed conservative policies but like all good trained monkeys, they dispute some immaterial technicality then claim that proves the substance of your assertion incorrect. I sometimes wonder, do they even understand any of the psychological or semantic dynamics of what they are doing or are they totally mindless brainwashed zombies following instructions?

It was redlining, which is the term used by leftist advocacy groups who cried racism when certain zipcodes had home loans denied at a higher rate. Then the government got involved and told the banks to throw out strength of finances as a determinate of who would get loans and instead as bill clinton called it "democratized credit". This is where all the bad paper came from and the housing collapse.

With my own ears I heard Barney Frank say "mortgage approvals should not be based on income"

That one sentence, coming from the head of the Banking Committee led to "stated income" loans which crushed too big too fail banks.

Why does this have to be partisan?

Edit to add: CRA is the main culprit, not Frank Dodd.

It was the CRA (specifically the strengthening of it done by Clinton) not frank Dodd, nobody says that...

It prevented them from taking into account certain criteria (such as property location) when determining if the loan on a property was in line.

1) We don't. It wasn't written yet. CRA does that.

2) You claimed throwing money out the door with no expectation of its return makes massive profits - thus PROVING you're an idiot or that you think we're all idiots. Which is it?

3) It's Dodd-Frank

4) I guess we know the answer about 2) above, don't we?

I think you mean the CRA. It didn't force them, but it encouraged them and the government said it would insure the risky ones. Then when the sh-t hit the fan the government threw its hands up in the air and said 'I don't remember saying that'

The Frank-Dodd bill was the most hypocritical thing I've ever seen.

Dodd-Frank is post-collapse. You are thinking the Community Reinvestment Act.

If you went to a casino and they gave you free money wouldnt you gamble?

Thats what the Federal Reserve did and is doing with zero percent interest rates.........But by all means keep blaming the GOP and DNC.

Why the debate? Do you believe that the Government guaranteeing loans does not enable those who are not able to qualify otherwise to get approved? Be honest now.

janet reno told banks minority quotas would be met or discrimination would be prosecuted. clinton got the black vote, bush asked for oversight at fannie 34 times.
google barney frank caught lying for the democrat response.