Did Democratic socialist policies create the current financial crisis?

it was a big part of it.Did Democratic socialist policies create the current financial crisis?
If you are referring to the current fiscal crisis. NO it was the deregulation of the financial industry and then the lack of enforcing the the few remaining regulations caused the crisis. The Fannie Mae/Freddie Mac issue is huge but wouldn't have happened if the banks had been regulated. We wouldn't have sub-prime mortgages however we would still have had the melt down in the housing industry.



If you are going to place blame it deserves to be squarely on this current administration for not enforcing the few regulations that were there.
It is largely a product of the Community Reinvestment Act (CRA), but I wouldn't call it a socialist policy, just a bad one.



It has been supported by both parties, but mainly the Democrats.



Bush tried to change the CRA, which forces banks, especially Fannie Mae and Freddie Mac, to take on 'sub prime' loans, in 2003, but it didn't go ahead.



Barney Frank (D-MA) who now chairs the House Finance Committee said in 2003:



"These two entities鈥擣annie Mae and Freddie Mac鈥攁re not facing any kind of financial crisis, the more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing"



The failure of both parties to solve the problem allowed the danger posed by the unsustainable lending practices of banks encouraged by the CRA to grow over a few decades.Did Democratic socialist policies create the current financial crisis?
Definitely.



Specifically it was Clinton's expansion of a well-meant 1970's bill (Community Reinvestment Act) and the abuses it opened up.



Even though Bush, McCain and others wartned this was coming - Dems stood in the way of acting. They claimed Fannie and Freddie were fine - no problems there.



You can watch a video of them ignoring the crisis on YouTube



http://www.youtube.com/watch?v=_MGT_cSi7鈥?/a>



Libeal salways fall back on their 'blame Bush' excuse - and they are trying it once again using 'Bush Policies' as the inclusive culprit.



Bush warned them though - and we can point specifically to Clinton's actions with the CRA - while they are left grasping at straws and making vague accusations that don't hold up to scrutiny of the facts.
In a word no. I keep hearing this from Republicans. The problem is that the Republicans controlled both the Congress and the White House for 6 years while this crises grew. The problems we are seeing are the result of an unholy alliance between government and the financial markets which the Republicans did little to negate or mitigate preferring instead to spend the majority of their time on foreign wars rather than domestic tranquility. There is plenty of blame to go around in this and Republicans must shoulder their fair share.Did Democratic socialist policies create the current financial crisis?
Yes, Yes and Yes and how auspicious that is should come just before an election they weren't sure they could win... Now they can say they saved the day and all the kids that are just barely old enough to vote and the me generation will buy into it and vote for the Dems... This problem started during the Carter years when they felt that everyone should be able to own a home and requirements were lowered. The Reps really didn't make any changes after that but for quite a few years the Congress was controlled by the Dems, than along came Clinton and he allowed more deregulation which was not a good thing, yes it allowed more people to get homes and credit cards but that's not always a good thing especially if you can't pay your bills on what you earn and taxing people to death is not the way to grow the economy. There is enough blame to go around but the majority of it goes to the left and the leaders of Dem party, and yes Obama reaped the rewards of this fiasco just as much as many others in Congress...
Yes and no. Since the Clinton years the White House has asked for more regulation in regards to Fannie and Freddie. Democrats were against it for socialist purposes and Republicans were anti-regulation. So quite frankly Congress as a whole is responsible for the mess.
Which "socialist" policies are you talking about? Specific details please.
No, the reason is called Fictitious Capital.Its part of the agony of Capitalism.
Yes. They wanted everyone to own a home, regardless of their ability to pay.
Both parties are at fault...thinking that one party created this is ignorant.
It's looking that way.
no
no....