Jandre002 on 22 September 2008
I really dont know how much we can blame the government for this. Once they saw these subprime loans going out they really should have stepped in, but I don't think we can blame Bush for this so much (we can blame him for everything else.)
It IS his fault that gas prices went up. It is his fault that Americans began to panic because of "terrorism", which undoubtedly affects how consumers act in the market.
But this right now, I think its investment banks fault. Investing billions in assets backed by consumers will horrible to no credit is stupid. Sure the returns are high but when they don't pay, your screwed. It only took a slight economic slowdown to trigger the domino effect and thats exactly what happened.
