How the Democrats Created the Financial Crisis

[cobra de capell]

Go to the link below for a very simple overview of how the Democrats in Congress created this entire economy mess. Keep in mind that millions and millions in salary and especially bonuses were made by those in the management ranks at Fannie and Freddie, including Franklin Raines and Barney Frank’s boyfriend at the time.

There is not even a shadow of a doubt that this is the way in started, Republicans saw it coming and provided a fix in 2005 with that fix rejected by the Democrats. Without Freddie and Fannie financing and packaging this recession, possible depression on the way, would never have happened, period.

I was in the banking industry my entire life and from the inside it was clear that something was going to happen - but we all thought that real estate would keep going up - well, it stopped going up and here we are.

http://www.bloomberg.com/apps/news?p...d=aSKSoiNbnQY0

From the article - "It is a classic case of socializing the risk while privatizing the profit." In this case, the risk was socialized upon the American people. Americans will be paying for this long after we are all dead.