In the wake of the 2007-2008 Financial Crisis, there are several explanations for the crisis. Please identify the explanation embraced by the plurality of Republicans. .

Question 1 options:

	The combination of inappropriate regulations of the financial services sector (e.g. CRA) and Fannie Mae and Freddie Mac are responsible. The Community Reinvestment Act inappropriately encouraged lending to less creditworthy moderate-income households . . . and, Fannie Mae and Freddie Mac obliged.
	A combination of a lack of appropriate regulation and lax enforcement of enforcement of existing regulations and adverse incentives throughout the financial services sector. For example, there were no meaningful capital requirements for Investment Banks; and, no regulation of credit default swaps ('CDS').
	Faulty financial engineering, many segments of the financial services markets were too opaque, and misguided credit ratings. For example, the financial models used to structure CDS and MBS were operating beyond the data use to specify the models. And, the credit rating agencies lacked the expertise and the financial incentives to evaluate the complex securities that rated.

Question 2 (2.5 points)

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In the wake of the 2007-2008 Financial Crisis, there are several explanations for the crisis. Please identify the explanation embraced by the plurality of Democrats.

Question 2 options:

	The combination of inappropriate regulations of the financial services sector (e.g. CRA) and Fannie Mae and Freddie Mac are responsible. The Community Reinvestment Act inappropriately encouraged lending to less creditworthy moderate-income households . . . and, Fannie Mae and Freddie Mac obliged.
	A combination of a lack of appropriate regulation and lax enforcement of enforcement of existing regulations and adverse incentives throughout the financial services sector. For example, there were no meaningful capital requirements for Investment Banks; and, no regulation of credit default swaps ('CDS').
	Faulty financial engineering, many segments of the financial services markets were too opaque, and misguided credit ratings. For example, the financial models used to structure CDS and MBS were operating beyond the data use to specify the models. And, the credit rating agencies lacked the expertise and the financial incentives to evaluate the complex securities that rated.