I think it's more they deregulated the banking industry and completely gangfucked the economy in order to line their pockets and piss on the little people. The destruction of the economy was more an unforeseen consequence of their greed. And as evil as the Republicans are the Democrats deserve blame for being their willing prison bitch through much of the GWB administration and not being tough enough during the Obama Administration.
What really annoys me about the right wing of this country aside from their unbelievable ignorance is there's a whole litany of things to nail Obama and the Democrats on but they choose utterly the most retarded arguments and things to bitch about.
Franks Stopped Bush in 03 to regulate Fannie Mae 17 times!
Franks Stopped Bush in 03 to regulate Fannie Mae 17 times!
Housing Bubble, Financial Crisis What Happened, Who is Responsible
I dont mind cleaning up the mess that some other folks made, thats what I signed up to do Barack Obama (D-IL), October 20, 2009
I think that the responsibility that the Democrats had may rest more in resisting any efforts by Republicans in the Congress, or by me when I was President, to put some standards and tighten up a little on Fannie Mae and Freddie Mac. Former President Bill Clinton (D-AR), September 25, 2008
Like a lot of my Democratic colleagues I was too slow to appreciate the recklessness of Fannie and Freddie. I defended their efforts to encourage affordable homeownership when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit when it comes to Fannie and Freddie, we were wrong. Congressman Artur Davis (D-AL) , September 30, 2008
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President Obama is using the financial crisis to make Americans doubt themselves, their values, and the very system they had believed enabled their specialness. In the vacuum of this doubt, he is moving his agenda to radically alter the fiber of what it means to be American. TJ Hancock (American)
These two entities Fannie Mae and Freddie Mac are not facing any kind of financial crisis, said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.