I'm not saying Democrats didn't have chances at fixing this mess, simply that the core values and philosophies that caused it are primarily held by Republicans. You're talking about the subprime crisis as if Fannie/Freddy somehow caused it. Huh? Those organizations have been around for over 50 years. Their role since the 60s has essentially been backing mortgages made by other companies and selling them as securities. They were NOT tasked with, as you said, getting houses to people with low-income. You're (perhaps) thinking of the Community Reinvestment Act, or CRA, which has been around since the 70s and, though it was expanded in the Clinton administration, is not widely considered to have been a primary factor in the subprime crisis.

Many, MANY people are at fault for this mess. However, again, deregulation and greed were at the core of this. And again, it is Republicans who constantly tout how LESS government and LESS regulation is better. Let the economy run itself, everything will be OK. The free market sorts everything out. Well, we gave that a shot and look what happened. THIS is the absolutely moronic philosophy that I am attacking here. It does not work in practice, and we've seen why. CEOs and high-level employees of these massive institutions who have engaged in corrupt and/or immoral practices can feel safe with the fact that they've accumulated tens of millions of dollars, so even if their actions affected vast numbers of people, they don't care.

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