She is correct. This is how it starts.

[Mr VJP]

Got to give the woman credit.  This is how it starts.

 

Fiorina

"I think what's interesting about Dodd-Frank is it's a great example of how socialism starts. Socialism starts when government creates a problem, and then government steps in to solve the problem. Government created the problem. Government created the problem of a real estate boom. How did we create it? Under Republican and Democrats alike, Fannie Mae and Freddie Mac, everybody gathered together, Republicans and Democrats, and said, 'Home ownership is part of the American dream. Let's create a bubble.' And then government stepped in. ... And now what do we have with Dodd-Frank? The classic of crony capitalism. The big have gotten bigger, 1,590 community banks have gone out of business, and on top of all that we've created something called the Consumer Financial Production Bureau, a vast bureaucracy with no congressional oversight that's digging through hundreds of millions of your credit records to detect fraud. This is how socialism starts, ladies and gentlemen."

[philoshop]

I would disagree with her use of the term "crony capitalism". It is, in fact, crony socialism.

That said, she has a clear understanding of what's going on.

[Mr VJP]

Never thought about that before Philoshop.  You are right, and I agree.