On September 16 Nancy Pelosi boldly declared that the Democrats bear no responsibility for the economic crisis. When I heard Pelosi’s declaration I immediately wondered what she was covering up…usually when a politician makes such a categorical statement they are engaging in a shell game of misdirection desperately trying to divert scrutiny of their actions.

True to form that is exactly what Nancy Pelosi’s comments were attempting to do. As more and more information comes out we find that the Democrats have for years been engaged in maneuvering to prevent more oversight and regulation of Fannie Mae and Freddie Mac.

In the video below you will hear Democrats proclaiming that the two programs have no problems and more regulation is not needed. To the best of my knowledge these states are from 2004. You will hear a number of Republicans calling for increased regulation and oversight. And if you don’t believe the snippets you see then listen to what Bill Clinton himself has to say at the end of the video.

I want to point out that the video makes the allegation that Frank Raines is Barack Obama’s economic advisor. Raines and Obama both deny that charge, although in an earlier Washington Post article Raines said he had “taken calls” from Obama’s campaign “seeking his advice on mortgage and housing policy matters.” I’ll let you be the judge as to which time Raines was being truthful.

Please do not misunderstand, I am not saying that the Democrats are solely to blame for the economic crisis that we find ourselves in….clearly there is enough blame to go around. But I think it is also clear that the Democrats cannot totally distance themselves from the crisis while laying the entire blame on the Republicans.

As each of the parties engage in political posturing, finger pointing, name blaming and partisan politics at it’s worst, the American people can only hope that at some point cooler heads will prevail and a solution will be reached.