The attempt to excuse George “bailout” Bush from this disaster doesn’t work. Fannie Freddie was only part of the problem. A key source of the problem was Bush’s constant push for low interest/loans via his “ownership society” as well as his support for Greenspan’s inflationary low interest rates.
Blanket statements blaming President Bush are not fair either. President Bush pushed for a ‘responsible’ ownership society if you read his actual proposals and while you and I might not agree with any of it now...how many of US actually raised a big stink about it at the time?