I would say that either 2000 or 2004 Democrats' victory would decrease severity of the crisis, if not butterfly it outright. Speaking about 2000, it isn't obvious that tech bubble would burst as violently as it did without high-tech lobby being replaced by old oil/resource lobby next to ear of American high and mighty (aka election win of Oilman Bush and his oilers team). And, without OTL desperate search for next great vehicle of American Economy, the real estate bubble could be less epic. Now, going down the road from 2000, all the signs of hollowness of the great real estate bubble was there by 2003 at least. With less radical "greed is good" administration at the helm, some teensy measure of public control could (and IMHO would) be introduced to financial system. Basically, for anyone not profiting from speculations and remotely familiar with economy laws, 2003-2007 were years of nervous waiting for a looming disaster. Which did come in 2008, but it wasn't unforeseen at all.If Gore/Kerry had been elected in 2000/2004, would they have likely lessened or increased the damage done by the crisis?
I would say that either 2000 or 2004 Democrats' victory would decrease severity of the crisis, if not butterfly it outright. Speaking about 2000, it isn't obvious that tech bubble would burst as violently as it did without high-tech lobby being replaced by old oil/resource lobby next to ear of American high and mighty (aka election win of Oilman Bush and his oilers team). And, without OTL desperate search for next great vehicle of American Economy, the real estate bubble could be less epic. Now, going down the road from 2000, all the signs of hollowness of the great real estate bubble was there by 2003 at least. With less radical "greed is good" administration at the helm, some teensy measure of public control could (and IMHO would) be introduced to financial system. Basically, for anyone not profiting from speculations and remotely familiar with economy laws, 2003-2007 were years of nervous waiting for a looming disaster. Which did come in 2008, but it wasn't unforeseen at all.