see number 3

yep its that bad

http://dictionary.reference.com/browse/socialism

so⋅cial⋅ism   /ˈsoʊʃəˌlɪzəm/ Show Spelled Pronunciation [soh-shuh-liz-uhm] Show IPA Pronunciation

–noun 1. a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.
2. procedure or practice in accordance with this theory.
3. (in Marxist theory) the stage following capitalism in the transition of a society to communism, characterized by the imperfect implementation of collectivist principles.

Sam, Clinton forced legislation forcing banks to loan to the poor or those who could not afford homes otherwise they faced steep penalties. Now we are paying the price.

the banks used adjustable mortgages to tell the poor people "now that clinton is out, we'll make more money and screw you!"

You realize that it's vastly more complicated than something you can sum up in two sentences. There really is no one involved in this whole debacle that is blameless.

Yes, but sadly that is the attention span for news by most Americans.