Watch the following video and get mad about all the lies, obfuscation and parsing of words democrats have engaged in the last weeks to blame republicans for the economic mess democrats themselves created. But democrats now blame only the White house, speculators and lack of government regulation because it suits their political aspirations in an election year and are scared to death the truth will come out. They are right to blame Wall Street speculators and to an extent the Bush administration for lack of oversight but since 1992 they had been warned by the GOP that the monster they created during President Jimmy Carter’s presidency, the Community Reinvestment Act (CRA), was getting out of hand.
Keep in mind that for democrats Fannie Mae and Fredie Mac were cash cows from where they got hundreds of thousands of dollars in campaign donations, cushy jobs once they left their government post and indirectly received funds to keep and grow their power base. Community organizer Barack Obama would understand, after all he worked for ACORN. An organization that received a lot of money thanks to democratic policies (the CRA) that provided hundreds of millions of dollars to “housing rights groups” to give loans to minorities that were not eligible for regular bank loans.