if you want to blame bush for whatever your crazy mind wants, that's fine, but it's a real dick move to prescribe motives for his behaviour based on your own armchair psychology. you might need to step back from politics awhile.

This kind of vitriol is a major part of all that is wrong with politics these days. Hatred of one person or another creates this kind of imagination, stretch and stupidity in people who probably are not that bone-headed otherwise. Think Molly Ivans (RIP)

SO, Bush made people to buy houses that they could not afford? And your telling me that inverters didn't make bad investments?

What else to expect...Everything is Bush's fault .. from Katrina to bridge collapses etc...on and on..Naturally this is the left's mantra since he has never been considered the REAL president....I saw a woman testifying before a congressional committee...she said" I sat there and knew that the income on the application was way too high, but I was able to get the home"..come on...she was part of the fraud, but will not admit it...idiots should not own homes!!

Another aspect everyone seems to ignore is the pumping up of the economy with an extra 100 billion a year of funny money for the last five years. Printing all that extra cash catches up with you eventually in the form of an overheated, inflationary economy.

As soon as the president is in control of the federal reserve, I'll join you in blaming Bush. Until then get a life dumba**.

Who cares what you think? The Blame Game is just that----a big game created by idots like you. Where is good journalism? Where are the facts?

Good info…rising credit rates are affecting the market due to the America’s over-use on credit plays a significant factor in the housing market. I recommend this report on home sales that is useful…

http://www.dailyreckoning.com/rpt/HousingReport.html

-Cheers!

Bill Clinton personally reviewed every mortgage during his presidency to avoid problems like this. Also, since most mortgages are for 30 years he went back and looked at all the old ones to ensure that they were copasetic.

When are we going to learn to take personal responsibility for our own actions and quit blaming some one else. The banks made the loan terms, the borrowers took the deals and somehow Bush is to blame. I don't get it. Next thing will be bank robbers and murders blaming Bush. IT' NOT MY FAULT. BUSH MADE ME DO IT.

WHO DID YOU BLAME IN 1957 WHEN THE SAME THING HAPPENED?

if the blame does not belong on capitol hill.how do you bush lovers explain the continued abuse of mortgage lenders and services since 1999.they are robbing the american people with the blessing of the congress.by the way these abuses are not only against poor people.they do include middle income families.you know the ones who vote for the very people who will do anything to get re-elected so they dont have to get a subprime mortgage.

Lots of negative vibe to your comments.
Strong statistics are sometimes not believed by all people.
Good documentation. Really good point.

Peter, again you are letting your hatred for Bush affect your thought processes. It's good to see that all of the commenters so far can recognize propaganda when they read it. You are forgetting that the readers of BloggingStocks have some intelligence, stop insulting us, please.

YOU OBVIOUSLY DONT UNDERSTAND ECONOMICS 101. THE CREDIT CRISIS CAN BE BLAMED ON 2 BASIC ISSUES. FEAR AND GREED. STUPID PEOPLE FEAR WHAT THEY DONT UNDERSTAND AND GREEDY PEOPLE GAVE MORTGAGES AND LOANED MONEY TO POOR CREDIT RISKS AT HIGH INTEREST RATES AND THEN EXPECT THEM TO PAY IT BACK? DUH WHAT DO YOU THINK HAPPENS TO PEOPLE WHO LOSE THEIR JOBS AND CANT PAY IT BACK? STOP LOANING MONEY TO PEOPLE WITH BAD CREDIT AND THOSE ISSUES GO AWAY!

Thank you for identifying the true origin of the housing debacle. Bush and his Texas banker buddies have all the responsibility on their shoulders and Congress knows it.

This article = same old same old. I sense Michael Moore lurking around somewhere. Do you think Peter wants to co-write another "expose" for the silver screen? They certainly seem to be on the same vibe-- basing their diatribe not on truth or reality, but on their hatred of Bush and conservative thought. Agree with johnm-- where are the facts and good journalism? Peter's hatchet job is useless and boring.

What's even more disturbing then Cohen's comments is the fact there are people out there who actually believe him.

Someone enlighten me, as I have difficulty with macro economics. I assume a credit crisis is caused by lack of available money. Well, it seems to me that money the government put into the economy over time is still somewhere. It didn't evaporate, it is just held by different parties. As loans fail, some of the value is eaten up by foreclosure costs. This simply means some of the value is now held by lawyers, etc., and can re-enter the money cycle when it is spent or saved. Perhaps the only problem is that people who can't afford homes can't buy them. Since this seems to be a world crisis, it obviously is more complicated than I portray. Why?

Remember - The buck stops here! At the top that is. Whatever happens on your watch is your responsibility no matter how far down the tree it falls. The president of the company, or country, is ultimately responsible for both the good and bad that occurs during his term. If this president were in charge of a company he would have been terminated long ago for his huge errors in judgment that have been very costly in both lives and now in the economy.