Carly Fiorina: 'This Is How Socialism Starts'

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a good example of how socialism starts, GOP presidential candidate Carly Fiorina said in Tuesday's debate.

The former Hewlett-Packard CEO said the problem started when government created a problem then steps in to solve it.

The government created a real estate boom when Republicans and Democrats together pushed home ownership even to people who couldn't afford it, she said. When the bubble began to burst, the government under President George W. Bush forced larger banks to buy smaller ones in an effort to solve the problem.

"We created something called a Consumer Financial Protection Bureau with no congressional oversight that is digging through hundreds of million of your credit records to detect fraud," she said.

"This is how socialism starts. We must take our government back."

Related Stories:

• Christie Focuses Attacks on Clinton in GOP Undercard Debate
• Republicans Clash on Immigration, Foreign Policy at Debate