Actually we just emerged from a decade which government overspending and government meddling in the housing mortgage industry led to a leveraging by derivatives of government forced loans which led to "major economic distress".
The problem was not generated by Bush who attempted to regulate the grotesque interference by Congress and the Clinton Administration who forced banks to make uneconomic loans to minorities and aggravated the harm with shameful cronyism of Democrats and the bureaucrats in Fannie Mae and Freddie Mac who personally profited from cooking the books.
The problem was not Bush, nor was it lack of regulation but too much regulation and it certainly was not deregulation that led to "distress", it was government spending and government meddling.
This is an illustration of the truth being unable to get its boots on before the lie has gone halfway around the world.
