How to Pin The Economic Crisis on a Democrat

So, I started my research in the obvious place: right wing bloggers. I found all types of references to Carter, and Clinton. But in those cases, they just seemed to skip over 22 years of Republican presidents. I mean truly 12 years of republican presidents could fix whatever these bloggers were blaming Carter for. And heck, 6 years of complete republican control of the legislature and executive branches could have obliterated the lame duck sessions of the Clinton administration. Both House and Senate majority were controlled by Republicans from 1995-2006. The reasons that were posted were pitiful anyhow. Besides...people that started to skip their payments were folks that bought their houses 5 years ago, well into the Bush administration. Folks that bought houses in the 90's were not having payment issues initially. So, I shifted gears and looked for an answer during this century.

As I already mentioned, Republican had complete control from 2000-2006, so it makes it a bit more difficult to toss the blame on Democrats. But none the less, I found what seemed to be the Holy Grail for this research. Bloggers, Diggers, Right Wing media, all seemed to point to a article that was published by Bloomberg. Appropriately entitled: "How the Democrats created the Financial Crisis." Go ahead and read it. There were so many red flags that popped up, I had to pause and take a reality check. So the problems:

1) Its an editorial, an opinion; not an article which is subjected to fact checking and an editor.
2) Written by Hassett adviser to Republican Senator John McCain of Arizona in the 2008 presidential election (and to Bush prior).
3) It pegs the blame in 2005. 2005, hmmm, yeah Republicans were the majority.

I read a bit into S.190. Looked like it never even made it to any floor! Last I know, it was the majority that gets to determine what bills reach the floor. Reading some comments, it seems Dems didn't like the idea of shifting regulation from the government to a external agency (thus removing any oversight). Side note, I also found a bill HR 1427, which was proposed by Democrats in 2007 and supported by both parties. A bit late in the game, but still alive.

Now the sad facts. Everyone’s to blame. Democrats for being too quiet, Republicans for sleeping at the wheel for way too long, and the average Joe the plumbers, who can't do simple math but know how to sign dotted lines. However two events sparked a good chunk. Bush told everyone to go shop after 9/11 (yeah, with what money yo?). Hello credit Debt. The other goes to Alan Greenspan. He drove interest rates to the floor, which artificially beefed up stocks and investments. It also opened doors literally to home owners that should have been owning nothing more then a trailer. He also open the door for the now infamous flex rates. Wikipedia has an interesting section on Alan called Economic Crisis of 2007. Course I'd never use Wiki's as sources, but its a good place to start. Greenspan himself has admitted to this as a failed experiment, during recent congressional hearings. For that he's credited with "engineering" the housing bouble (The Economist, Washington Monthly, NY times, etc).

Some additional reading on causes - Wiki.
Also see Greenspan's Folly