>>10
>This whole mess has been caused by DEMOCRATS.
The Gramm-Leach-Bliley Financial Services Modernization Act is undisputedly one of the largest causes of the current economic crisis. This Republican act of deregulation was supported by McCain and only passed because Democrats were promised privacy and equal opportunity clauses (which were almost immediately repealed). Gramm is now McCain's campaign co-chairman and top economic adviser and both of them still think more of the same will help.
http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Act
http://mises.org/story/3098
>Do you think any self respecting Republican would pressure banks to make unsound loans to niggers and illegals? In the name of "social justice and housing for all"?
Actually, it was the unregulated independent mortgage companies that were NOT bound by the Community Reinvestment Act that were giving out unsound loans. It has been shown (see last link) that CRA banks are "less likely to sell risky mortgages onto the secondary market, and likely mitigated the effect of the subprime crisis." If it wasn't for CRA banks, this mess would be a whole lot worse.
http://en.wikipedia.org/wiki/Community_Reinvestment_Act
http://www.traigerlaw.com/publications/traiger_hinckley_llp_cra_foreclosure_study_1-7-08.pdf
>>12
The Congress is only Democratic by a small margin and don't forget there's still a Republican president. Anything that does get through the Congress is either vetoed outright by Bush or reduced to a useless, steaming pile. The situation is the same even with the roles reversed. Congress is usually more or less useless unless it's majority is mirrored by the President. It's no surprise that they haven't been able to do much. To use the wording from another thread where your post was reposted, Congress is trying to stop an avalanche with a snow shovel. You aren't going to be able to stop more than a decade of bad decisions with crippled, half-ass measures.
Anyway, what I'm trying to say is that it is once again the Republicans who are further damaging the economy because they aren't letting Democrats fix their mistakes. Worse, the Republicans are in denial about the whole thing and want to do more of the same shit that got us in this mess in the first place (see: McCain).