Originally Posted by satchip

Actually, If we confine the current economic mess to the housing debacle and the subsequent meltdown of the financial markets, yes it was all the Democrats fault. This mess is a result of the Community Housing Reinvestment Act enacted under the Carter administration and strengthened under the Clinton administration. That law, in the name of minority/low income home ownership, forced lenders to write loans where they had refused to before. The Reno Justice Dept threatened banks that did not write enough loans to certain demographics and addresses. Fannie Mae and Freddie Mac were GOVERNMENT entities created and run by Democrats to back those loans. Franklin Raines, CEO of Fannie Mae was in the Carter admin. He looted FM for a 100 million dollars (said with a Mike Meyers accent). When W tried to propose stricter regulations for FM and FM he was rebuffed and defeated by the Democrats in Congress led by Barney Frank (House Banking Co) and Chris Dodd (Senate Finance Co)..