Blaming the economic crisis on any particular thing is a simpletons game.
There are so many contributors to it such as...
-Fannie Mae (Federal National Mortgage Association) / Freddie Mac (Federal Home Loan Mortgage Corporation)
-bond rating agencies
...just to name a few.
However, this is primarily a safety net / moral hazard problem, which is not unique to this crisis. Safety nets (which have become essential in a modern economy) were provided but regulations were not drafted or enforced to limit the consequent risky behavior. As a result, many different people took risks that they shouldn't have because they anticipated the government would bail them out, and it turns out that is exactly what the government has ended up doing. So in essence, this was a regulation problem, not a failure of capitalism, nor something that can be pinned down to any particular socialistic policy.
Seriously, people need to stop watching FOX or MSNBC and just stick to the facts.