The initial cause of the present financial turnoil is the inflation of subprime mortages. This article shows that at first the Community Reinvestment Act forced banks to make subprime mortgage loans to poor communities. Then, in order to provide affordable housing to every American, the two "governement sponsored entities", Fannie Mae et Freddy Mac, were induced by members of Congress to buy subprime mortgage and resell them securitized.
AFTALION, F. (2008). Aux sources de la crise financière. La Tribune, pp. 29.