The Bush administration ignored warnings about housing market problems, removed Wall Street regulations and refused to enact proposed mortgage regulations - all while cutting taxes for the wealthy and launching an expensive and misguided war in Iraq.
And the Bush White House is responsible for America's current economic catastrophe >>
A recent New York Times article discussing the financial crisis our country is in puts it plainly: "The story of how we got here is partly one of Mr. Bush's own making, according to a review of his tenure that included interviews with dozens of current and former administration officials."
But President Bush is trying to dodge responsibility, saying that he is "looking forward to the true history of the financial crisis being written" and that there's "no question part of the crisis came about because of the excesses in lending in the housing market."
The truth is that his administration refused to confront irresponsible lending and instead let Wall Street build mortgage-backed securities into a massively complicated Ponzi scheme that wrecked the global economy. The financial crisis is the result of calculated deregulation and gross negligence by the Bush administration and congressional conservatives.
Tell President Bush to take responsibility for the mess he and his administration has created! >>
all repigs fault
Is America finished? The banking collapse suggest the process has begun.