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    Myths

    LIE: The 2009 cap and trade bill would have required homes to be energy efficient before they could be sold

    TRUTH: The cap and trade bill would have created a voluntary energy-efficiency labeling program

    LIE: ACORN helped a nationwide child prostitution ring

    TRUTH: Official investigations found no evidence of criminality on the part of ACORN

    LIE: Barack Obama said subprime lending was a good idea

    TRUTH: Barack Obama said subprime lending was a well-intentioned idea that was abused

    LIE: Mortgages given to poor people under the 1977 Community Reinvestment Act caused the financial 2008 crisis

    TRUTH: Homeowners from all income levels were involved in the mortgage crisis

    LIE: The Department of Housing and Urban Development said undocumented immigrants hold over 5 million mortgages

    TRUTH: The federal government keeps no statistics on home loans given to undocumented immigrants

    LIE: Congressional Democrats, led by Rep. Barney Frank, opposed strengthening oversight over Fannie Mae and Freddie Mac

    TRUTH: Democrats in Congress repeatedly introduced legislation to regulate Fannie Mae and Freddie

    LIE: The 2008 housing crisis was caused by government allowing poor people to buy homes they couldn’t afford

    TRUTH: Wall Street created the demand for bad mortgages that led to the 2008 crisis