Problem: To other analysts the delay between CRA rule changes (in 1995) and the explosion of subprime lending is not surprising, and does not exonerate the CRA. They contend that there were two, connected causes to the crisis: the relaxation of underwriting standards in 1995 and the ultra-low interest rates initiated by the Federal Reserve after the terrorist attack on September 11, 2001. Both causes had to be in place before the crisis could take place. Critics also point out that publicly announced CRA loan commitments were massive, totaling $4.5 trillion in the years between 1994 and 2007. They also argue that the Federal Reserve’s classification of CRA loans as “prime” is based on the faulty and self-serving assumption that high-interest-rate loans (3 percentage points over average) equal “subprime” loans.
When were ultra-low interest rates initiated by the Federal Reserve?
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Answer: after the terrorist attack on September 11, 2001


Problem: Congress has the sole power to legislate for the United States. Under the nondelegation doctrine, Congress may not delegate its lawmaking responsibilities to any other agency. In this vein, the Supreme Court held in the 1998 case Clinton v. City of New York that Congress could not delegate a "line-item veto" to the President, by powers vested in the government by the Constitution.
What was the court case that struck down the line item veto?
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Answer: Clinton v. City of New York


Problem: Portugal operates a multi-party system of competitive legislatures/local administrative governments at the national-, regional- and local-levels. The Assembly of the Republic, Regional Assemblies and local municipalities and parishes, are dominated by two political parties, the Socialist Party and the Social Democratic Party, in addition to the Unitary Democratic Coalition (Portuguese Communist Party and Ecologist Party "The Greens"), the Left Bloc and the Democratic and Social Centre – People's Party, which garner between 5 and 15% of the vote regularly.
What two political parties dominate Portugal's government?
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Answer:
Socialist Party and the Social Democratic Party