Democrat housing policy leads to 40 % drop in US wealth

Washington Post:
The recent recession wiped out nearly two decades of Americans’ wealth, according togovernment data released Monday, with middle-class families bearing the brunt of the decline.
The Federal Reserve said the median net worth of families plunged by 39 percent in just three years, from $126,400 in 2007 to $77,300 in 2010. That puts Americans roughly on par with where they were back in 1992.
... 
The decline was worse in blue states and vacation home states like Nevada and Florida.  The defaults that came from Democrats forcing lenders to write loans for people who could not afford the houses they were buying had a cascading effect on other peoples homes putting them underwater  too.  Democrats have been furiously trying to avoid responsibility for the mess they made by blaming the events on Wall Street and writing the Dodd-Frank bill which has to be the most massive cover up in history.

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