1) Explain how red-lining limited opportunities for ethnic and racial minorities in the US to borrow money for mortgages. 2) The following laws were passed to help address the past wrongs of red-lining and get banks to lend to ethnic and racial minorities. a. 1968 Fair Housing Act b. 1974 Equal Credit Opportunity Act c. 1976 Community Reinvestment Act Over the next ten years, did the above laws work, and if so how. If not, why not? 3) In what ways did the Community Reinvestment Act ultimately relax lending standards? Give specific examples of some of the criteria that were relaxed. 4) What was the role of Fannie Mae in the dramatic increase in non-traditional lending? 5) What organizations/entities/departments put the incentives in place for the dramatic increase in non-traditional lending? 6) Explain how mark to market accounting of CDO's and other mortgage assets affected bank balance sheets. Did anyone suggest this would be a problem? Explain the testimony of William Isaac to the FCIC. 7) What was the role of a Bentley Economics Professor in the aftermath of the Credit Crisis