Standard Examiner Op-Ed - Missing info?

In today's Standard-X there is an interesting op-ed titled "Magical Thinking and Republican economics."   Mr. Patricio Ortega lays the blame of our economic crisis entirely on the Republican lead government from 2000-2006.  You have to love an author who insults his audience in the opening line.  Though he probably wrote this piece more to appeal to the liberal reader and make them proud to be a democrat.  I do not disagree many mistakes have been made by Republicans over the past eight years.  Many mistakes which only amplified and some ways caused many of the problems we are in today.  But I think we need to come down from Otrega's dream land and remember a couple points.

1.  Gramm-Leach-Biley Act.  Mr. Ortega lays blame to this peece of deregulation completely on the Republicans.  However he carefully omits that the Democrats Chris Dodd and Chuck Shummer saved this bill from demise.  The bill was struggling and was destined to fail.  The Democrats salvaged the bill and negotiated support for revisions to the Community Reinvestment Act.  The Community Reinvestment Act in itself pushed banks to lend more in lower-income areas and also added to our crisis. In end, Bill Clinton gladly signed both bills into law.

2. Commodity Futures Modernization Act.  Yes this is the act that allowed credit-default swaps to go unregulated.  Which was co-sponsored by democrats and republicans, then signed into law by...wait for it..President Bill Clinton.

Mr. Ortega's thesis is that Republican rule between 2000-2009 got us to the economy we are in.  Yet his first argument is about laws and acts that were created before 2000.  He completely omits serious problems in the Community Reinvestment Act and credit-default swaps have had on our economy. I am not saying his entire piece is wrong, nor am I saying Republicans didn't have a hand in the cookie jar.  But he should take a closer look at what really got us here.  No one side is fully to blame here and playing the name game (especially this late) isn't going to fix the problem.