KEVIN HASSETT SAYS THE FINANCIAL CRISIS is the Democrats’ fault.

UPDATE: A reader who requests anonymity emails: “I am a Republican, a bank economist and normally a fan of Kevin Hassett. But this time I’m afraid Kevin is wrong. Fannie and Freddie were part of a bigger problem that was aided and abetted by Republicans including Alan Greenspan and Ben Bernanke. To try and pin this mess on one political party or the other is a waste of time. (Not that plenty of people won’t try.) I understand Kevin is responding to equally silly attempts to rewrite history by Pelosi et al, but this mess really boils down to too many people – including homebuyers – who tried to squeeze too much out of the housing and mortgage boom.”

MORE: Another reader emails: “Greenspan spent a lot of political capital trying to get Congress to rein in the mortgage giants. While there is plenty of guilt to be shared, there’s no question that Barney Frank was the *the* major roadblock, preventing reform. Greenspan’s legacy as a serial bubble-blower is well-deserved, but he did try, and fail, to get the legislature to contain Fannie and Freddie.”