I blame the 2008 crash on George W. Bush.
We then got the Usurper because of George W. Bush.
And they became fast friends.
To an extent ... but I remember specific warnings to Congress about Fannie and Freddie and the rats would have no part of criticizing one of the biggest cash cows.
2008, you can blame over a host of regional real estate ‘booms’ which were hustling-up home values by double and triple the 1998 values.
I worked with a guy who’d sold his Florida home in 1998 for around $250k. He tracked the house, and it rose to $450k by 2005 (it was sold), and hit around $750k by 2008 (put on the market again). A year after the collapse, it was back down to $250k.
People had this feeling that the rise-factor was ‘normal’.
The Federal Reserve deserves the most blame for the crashes (by raising rates) and the most credit for bull markets. Plus there are "organic" market cycles. For those reasons I don't blame Clinton for the dot com crash nor W for the 2008 crash. But the prez (and Congress) can at least make the market cycles better or worse. Compare W's rebound from the dot com crash to Obama's slow grind rise from the 2008 crash, even with the Fed implementing "zero rates" for Obama as well as QE. One could argue that the reason the Fed had to raise rates almost all of W's presidency (which IMHO made the market crash again) was because of how quickly the market rebounded from the dot com crash.
The 2008 crash was because of the demoRATS in congress. All that free money and liar loans (no proof of income required) set the stage for the crash. They were building houses everywhere in 2006-2008 and free money to purchase them. Obummer got in because no one would expose him for the foreign national he was. Along with his degenerate background. The rest is history.
Looking back or choice wasn’t great. McCain? Yuk!
The Obama’s and Bushes go back to the 1970s. Not fast friends, longtime business partners when daddy Bush started Halliburton. Barky’s election was inevitable one GHWB became President.
Fast friends. Like when a doctor....that is a real one....passes a mortician, they wink
“I blame the 2008 crash on George W. Bush.”
As do I. Leaving interest rates as low as they were was ridiculous. Every unqualified buyer that could, was getting a loan and buying a house. Approvals were rubber-stamped. When home prices were rising faster than incomes could support, lenders were allowed to work some truly hocus-pocus k-rap to get people into homes. Home equity was treated like a bank ATM. Mortgages were sliced and diced and sold as “investments”.
Then, folks started missing house payments...
(I will say, while I don’t have a link handy, Bush did write a letter to Congress (?) or the Fed (?) urging the cutback on the current loose situation, as it was heading for trouble. But, he also could’ve done some executive orders to help the situation.)