The fiscal crisis will be on everyone's minds for quite awhile.

The world financial network hangs together because of confidence.

What shattered that confidence was the bursting of the housing bubble and the defaults beginning with the subprime loans encouraged, indeed, required by Democrats in Congress led by the likes of Massachusetts' own Congressman Barney Frank. Frank and other Democrats also twisted arms at Fannie Mae and Freddie Mac to buy the risky loans and package them up and send them around the world with the implicit U.S. guaranty behind them. Frank, the top Democrat in the House of Representatives on financial matters, kept telling concerned Republicans that Fannie and Freddie were in great condition and that no reform or new regulation was needed. Frank convinced fellow Democrats in the Senate this was the case and together they blocked reform legislation in 2003, 2004, 2005 and 2006.

What percent of Massachusetts -- and U.S. -- residents know that Democratic policies and actions cost them 30-50% of their life savings?

"Who blew that hole in your IRA?" Barney Frank. But he wasn't alone.

Of course, the voluble Frank is on the airwaves regularly blaming everyone else but himself and his colleagues, The Democrats in Congress worked hard to get their constituents who couldn't afford homes to get "subprime" (that is, very risky) mortgage loans. They got the loans all right, they got their homes, but when the housing bubble burst their mortgage defaults caused them agony and in many cases the loss of their homes.

The collapse of the subprime market triggered the financial panic that has cost the world trillions and frozen the credit system, leading to job as well as financial losses.
Democrats are now once again hard at work, this time figuring out how much of taxpayers' money will be poured into the black hole they created in the hope they will avert the Depression that their good intentions and bad judgment has hurtling towards us

After all, as Frank says, there are plenty of rich people out there to tax.

The whole sorry tale of Democratic responsibility is still being written, but a good start would be here and here.