The thing is, it's the Republicans in the congress of 1999 that are to blame for this mess. They repealed the Glass-Stegall act which kept banks from packaging mortgage backed securities. Although the Dems definately get some of the blame for signing onto the thing in the end.
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Date: 2008-09-30 02:50 am (UTC)http://en.wikipedia.org/wiki/Glass_stegal