I am a retired bank auditor and accountant. There is much in this ad that is truth, and it needs to be told. The democrats planted the seeds, and the Republicans failed to turn off the water, so the weeds grew like wildfire.

The CRA played a part as did other actions such as the repeal of the Glass-Stegal Act during the Clinton administration, for example.(Aided and abetted by the Republicans).

Sarbanes-Oxley and the SEC played their part especially with the “mark to market” requirements and the demise of the “uptick rule”.

It is not the first time that the desire to provide “affordable housing” has led to unwise government programs which brought down the economy-it seems to be a recurrent problem.

Those who do not know history are doomed to repeat it. Economics and financial history are not generally taught and required in the high schools, so many voters have no clue. In fact most congress critters don’t have a clue when it comes to economics and finance.

It is easier to simply blame whoever happens to be in charge at the moment without investigating to determine the real cause of problems. Such scapegoating doesn’t lead to meaningful solutions.

It also serves no purpose for Republicans to accept blame for the whole mess, because there is plenty of blame to go around in both parties. If the Republicans want to make a comeback, they need to grow a spine and stand up and do what is right for the American people-stop the rampant government spending for starters.

The ad may be a "logical" response to the current situation HOWEVER several thoughts come to mind. One, which papers will it run in, it has a "National Enquirer" looking format. That won't be helpful. Two, speaking of format the layout looks pretty similar to "Gummint Hides UFOs", send money. Again, not helpful. The story needs to be told, but only those of us who already know it will either read it or believe it.

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Go to You Tube and do a search for "Burning Down The House". This is a well researched film in chronological order to explain all the perps in the fiasco. There is room for blame to go around, but Bush is taking all the blame for "tax cuts" causing it. Frank Raines should be in prison instead of on Obama's economic advisory team. The Bush regulator DID bring it up at a committee meeting, but was called a racist and was trying to "lynch" Raines. Naturally, Bush backed down and started to take credit for all the minority house purchases. Bob Rubin was the culprit that changed the leverage rate on bank deposits to 30-40 to 1 from 10 to 1. Frank Raines told the mortgage industry Fanny would take all the loans they could get because houses NEVER decrease in value. Raines was soon audited for 5 years and found to have cooked the books and took his golden parachute and retired. Johnson at Freddy pretty much did the same thing, but hey, their all Dems, so they just took their millions and went to work for Obama.

Bush was no shining star, but he at least tried to bring it to the Oversight committee, before he wilted and got rolled by Dodd, and Bwarney Fwanks. There are many quotes on You Tube from other congressmen that made fun of the regulators and even threatened them for wanting to throttle back Fanny and Freddy. There are other reasons that all fell into place like keeping interest rates too low too long and other various things like loaning money at 110% of value, etc

There will be books written to bash Greenspan or Bush, but you will never hear the names of Dodd, Franks, Raines, Johnson, and even Obama who was only surpassed by Dodd with donations from Fanny. Out of the top 5 donation getters from Fanny and Freedy was 4 Dems. Dodd, Obama, Kerry, and Clinton were all in the top 5. As usual though, Bush will just sit there and take all the blame and be remembered as Hoover #2.