Who should be blamed for the Financial Crisis? Democrats

This article explains the blame of the financial crisis in simple terms.

The economic history books will describe this episode in simple and understandable terms: Fannie Mae and Freddie Mac exploded, and many bystanders were injured in the blast, some fatally.

Fannie and Freddie did this by becoming a key enabler of the mortgage crisis. They fueled Wall Street's efforts to securitize subprime loans by becoming the primary customer of all AAA-rated subprime-mortgage pools. In addition, they held an enormous portfolio of mortgages themselves.

The quasi-governmental Fannie Mae and Freddie Mac donated toms of money to Democrats, like Chris Dodd, Chairman of the Senate Banking Committee (who received the most money), Barack Obama (who received the second most money), and Hilary Clinton. They opposed a bill, sponsored by John McCain that would have regulated Fannie Mae and Freddie Mac to tightly. The bill was proposed after an accounting scandal that resulted in the resignation of former Fannie Mae Chairman, Franklin Raines. The same Franklin Raines that advises Barack Obama on mortgage and financial issues.