Dems Pushing for Race-Based Mortgage Lending

It's as if the Democrats have been asleep the last two years as the mortgage meltdown has taken place. Democrats in the House are pushing for an "enhancement" to the Community Reinvestment Act which would repeat the problems of the mortgage mess:

Now, Johnson's bill would ensure more of that by applying CRA's lending requirements not just to banks but to non-bank institutions like credit unions, insurance companies, and mortgage lenders. It would also make CRA explicitly race-based by, in Johnson's words, "requiring CRA exams to explicitly consider lending and services to minorities in addition to low- and moderate-income communities."

Sounds like a great idea - but only if some political hack who knows nothing about business or real estate like Jim Johnson, Franklin Raines or Jamie Gorelick is in charge of the program.