The financial crash in 2008 was tied directly to the housing bubble, which was a product of “progressive” social engineering. Jimmy Carter’s Community Reinvestment Act was strengthened by Bill Clinton so it forced banks to either grant mortgage loans to people who couldn’t pay them back, or be fined by the government. The banks had an out. They sold those toxic loans to Fannie Mae and Freddie Mac (relics of the FDR administration), who then certified them as secured by the federal government, bundled them and sold them to Wall Street bankers who trusted Fannie and Freddie (both of which were run by “progressive” Democrats) and sold them around the world as mortgage backed securities backed by the full faith and credit of the U.S. federal government. Barney Franks and Chris Dodd protected Fannie Mae and Freddie Mac to the bitter end and blocked efforts by John McCain and George W. Bush to enact additional regulations on the GSEs.
Nancy Pelosi, with Franks and Dodd standing beside her, lied through her teeth (typical of “progressives”) before news cameras and blamed the entire crash on George W. Bush and failed Republican policies. The “mainstream media” (aka the “progressive” party pravda) repeated the lie ad nauseum for their “progressive” political allies. That’s the job of the “progressive” party pravda, to report what their “progressive” political allies dictate. The “mainstream” media is so in the tank for the “progressives” that if you had video tape proof of the current White House occupant burying Caylee Anthony’s body in the Florida swamp they’d still carry water for him.
All the “progressives” did when they controlled the House, Senate and White House was dig the whole deeper and deeper by passing big government spending bills in another failed attempt to stimulate the economy through Keynesian economics. Now that there’re responsible Conservative members of Congress offering solutions to the debt and economic crisies you can bet your underwater mortgage that the “progressives” will use every dirty smear tactic in their arsenal to convince voters that the Conservatives are trying to destroy innocent lives. Other than open violence, lies and hate are the only tools they have left. Evidence: The commercial of the Paul Ryan look alike throwing grandma over the cliff.