I can’t help but to blame both political parties for our financial meltdown. While it’s true that some of the failed policies of the Bush Administration over the last eight years led us to financial ruin, both parties had a hand in the mortgage meltdown and here’s how.

The Republicans let Wall Street run wild with their policy of less or no financial regulation. With all of the money that passes through Wall Street, there needs be more Federal oversight. However, certain Democrats, like Barney Frank – a leading Congressional Democrats who heads Financial Committees – pushed Freddie Mac and Fannie May to provide loans to the poor. He continued to defend the mortgage companies even as of the late summer of 2008, asserting that these companies had a solid financial future going forward. Boy, was he wrong. You can bet that Fannie and Freddie contributed heavily to the Congressman’s campaign.

Below is a video of Barney Frank being interviewed by Fox newscaster Bill O’Reilly outing Barney Frank for telling the public on television in the summer of 08 that both Freddie Mac and Fannie May had solid financial futures. Watch and determine for yourselves.