You are kidding right? The seeds of the collapse were sowed years before that. The eventual collapse (starting Fall 2007) was triggered by Berneke in 2006 with raising interest rates. The economy was a house of cards. Try :
Peter Schiff Was Right 2006 - 2007 (2nd Edition) The classic
Peter Schiff was right 2006-2007 - CNBC edition
Just saw this re-edited one which ends with passing TARP1: THE FED DID IT!!! Ron Paul & Peter Schiff Were Right!!!
As org.whodat put it perfectly, no coolaid. Our Bush butt kissers have given us enough of that.
Wait...that can't be! Just the other day, a noted Bush apologist, FReeper STARWISE, said publicly that Bush had been warning Congress about "the systemic risk posed by the GSEs" Fannie Mae and Freddie Mac, including during years when the Republican Party held control of both houses of the United States Congress.
In my reply (on that day) to STARWISE's comments, I wrote:
Bush faced a Republican controlled Congress from 2000 to the 2006 elections.
So, you have two choices (well, maybe three!): either Bush screwed up, Congress screwed up, or both. In all three cases, Republicans screwed up. And, irrespective, Bush still signed the TARP bailout bill into law.
One could counter such choices (but not the cold, hard reality of Bush's signature on the TARP bailout bill) by attempting to deflect blame onto the Democrats, but such buck-passing would appear as silly as anything the Democrats are saying today.
My reply stands. Someone here (and it's not sickoflibs, bamahead, or myself) is NOT telling the truth or is otherwise grossly misinformed on this matter. While the Democrats' role in orchestrating the present financial crisis can not be emphasized enough, it should be noted, for the sake of completeness and for intellectual and political honesty, and to avoid the appearance of an attempt to "whitewash" the Republican record, that the Republican Party leadership was a willing participant, and an integral accessory, to the perpetration of the present financial crisis, and as such, is at best, partially culpable for the present financial crisis, and at worst, wholly culpable--as it is the Republican Party and not the Democrat Party that claims to speak for free markets--and worthy of being tossed into the dustbin to join its Whiggish predecessor.
Remember, fascism is only acceptable when the RINO Party is at the helm!
After all, Bush kept the trains running on time us safe! /bleats like a sheep