Democrats caused the crash of 2008

With Maxine Waters tanking the Stock Market by talking about Democrats being tough on financial policy it's a good time to remember that it was the Democrats who caused the crash of 2008.

The collapse of the housing market is what led to the crash of 2008.

The housing market collapsed because too many people who couldn't really afford mortgages were given mortgages.  That worked so long as the value of houses kept going up but when the housing bubble burst there were suddenly a huge number of people who couldn't pay their mortgages.

It was Democrat policy that led to all those people who couldn't afford mortgages having mortgages.

Democrats were threatening to sue banks if the banks didn't lend money to minorities irrespective of the minorities ability to pay.  This is another example of Democrat policies that are supposedly designed to help Blacks but which end up hurting them.

Banks would have fought that except for the fact that the Democrats provided a way for banks to do that without risking losing money.

What happened was that banks made risky loans and then sold those loans to Fannie and Freddie Mac thereby reducing the banks exposure.

Bush saw this was a problem and starting in 2001 tried to reform Fannie and Freddie.

But Democrats, including Waters, said no; everything is fine.  Then when the bottom fell out they, and their media toadies, blamed Bush.

The whole media story about the crash of 2008 is another example of Democrats blaming Republicans for Democrat failures.