Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis

In addition to the damning evidence against the Democrats in the video above, we must also remember that George W. Bush also saw this economic downturn coming. The Bush administration warned in the budget it issued in April 2001 that Fannie and Freddie were too large and overleveraged. Their eventual failure "could cause strong repercussions in financial markets, affecting federally insured entities and economic activity" well beyond housing.

The housing bubble, that was doomed to eventually burst, was also partly created because of the Community Reinvestment Act, which had a partial hand in what transpired as well. The CRA demanded that banks make loans they would not normally have made otherwise, due to the risk factors of the borrowers. Of course, to argue that the CRA is the "complete" cause of the problem is irresponsible too. Many factors played a part in this debacle. But to claim the CRA had nothing to do with it is ignorant as well. Regardless of how much of a hand the CRA had in creating this crisis, no matter how you slice it, the CRA was definitely one of the hands in the cookie jar.

Unfortunately for him, President George W. Bush was in office when the crap hit the fan, so naturally the folks that listen to the agenda driven talking heads of the alpha-bet networks believe it is all Bush's fault - the Liberal Left has done a fine job pointing the evidence away from them - but the evidence is all around us, and with Obama, they plan to worsen the economic situation with their moronic liberal tactics.

It was liberal agendas and government intrusion that created this growing economic situation that is quickly moving towards a catastrophic recessionary period, and their answer is to inject more liberal philosophy and government manipulation into the crisis. That, my friends, is hardly hope and change. . . it is nothing more than the same old liberal idiocy damaging our economy and our political system.