Democrats Caused Housing Mess

[Kasz216]

akuma587 said:

bigjon said:
Ok, I should have made a better Subject line.

I believe all of washington is to blame for the crisis. Both Parties.

I should have said "Dems to Blame For Fannie and Freddie Failure Which Lead to Collapse of Financial Markets"

basically what the point of this was, if the dems had not been in bed with Fannie and Freddie the snowball would have been stopped before it got too big. It still would have been bad, many of the Bad loans had been made.

The Federal Reserve made it into a problem before anyone in Congress did by keeping rates low for so long.

And you should say that the Democrats and the Neo-cons caused the problem if any group of people was responsible.

 

Yeah Greenspan was at fault for stopping a bunch of "mini" recessions as well that balled into a big one... but I gotta believe a big reason he did that was constant bi-partisian pressure from incumbants... where short bumps would hurt their relection chances. 

That and the ability to brag about the amazing rise in home ownership due to the low rates.

I mean... I can't figure out any other reason why they kept things as they did...