Recessions are quite hard to quell, but real blame is on Freddie Mack and Fannie Mae-Democrat puppets.?

Fannie and Freddie had nothing to do with causing the recession. To the extent the problem was real estate it was the fault of private banks that took advantage of new mortgage-backed securities to completely separate the lender from the collector thereby destroying all incentive to make only loans that the lender expected could be repaid.

But the larger cause of the recession was widespread debt and improper accounting practices that recorded accounts receivable as income already collected. This caused a huge debt spiral that allowed us all to think there was much more wealth than there really was. Everybody owed everyone else, but nobody actually had the cash. The wealth was an illusion. The real estate bubble pop was just the trigger that alerted us to the deeper problem.

This is all a result of deregulation that started back in the 80's and was perpetrated by both parties. Probably the biggest piece was the repeal of Glass-Steagal, which happened under Clinton. It should be noted, however, that the only opponents to this deregulation were Democrats. Unfortunately, it was a minority of them.

That's only part of the answer.

You're leaving out huge banks and financial institutions -- private capitalist institutions -- that also contributed to the near-collapse of the American financial industry in 2008.

For a couple of examples of companies that also deserve "real blame," but that you're failing to mention, try surfing the net regarding

* Citibank

* Bank of America

* AIG

* Wachovia / Wells Fargo

* HFC

* Countrywide Financial

* UBS

* Credit Suisse - First Boston

* Goldman Sachs

* Lehman Brothers

* Bear Stearns

Yeah you're right---

I mean, it has nothing to do with Lehman Brothers going under for short selling.

And that whole ING scandal that threatened the entire US insurance market was just fear mongering.

Then of course, the US auto industry failing to diversify its product line to maintain competitiveness with the international market was just a media scam.

Oh yeah, the GOP Congress' reluctance to impose regulations on any industry, which may have had a mitigating affect when the bubbles began bursting had nothing to do with it as well.

Finally, the reaction of the DJI to all of the above, and even more scandals, was just overkill.

<SARCASM>

Reality...Faux News has lead you into believing that it is just the Democrats fault, and you appear to comfortable with those lies.

FAIL

Is that why Bush and the GOP bragged about increased home ownership in 2004?

We didn't hear any complaints when greedy investors were bundling these loans, selling them to Freddie and Fannie, and making a killing.

No the real blame is the Gramm- Bliley Act of 1999

There's plenty of blame to go around. Neither political party did their due diligence.

Puppet this, puppet that.

Grow up kid.

You have no idea what you are talking about.

You are simply repeating what FOX told you... puppet.

Absolutely...and Barney Frank, Nancy Pelosi, Harry Reid...the list goes on and on but are mostly on the left.

Careful, Demarcates don't want that said any more.

yes and bill clinton