Under Clinton's reign an edict was issued that attempted to "level the playing field" of home ownership, forcing banks to lend to those with bad credit. Banks that did not meet certain low-income lending quotas would be fined. Barack Obama was one of those who bullied banks in the Chicago area to make sure banks were making enough of these ultra-risky loans.
Freddie and Fannie began buying up shares of these ultra-risky loans while padding their employment ranks with liberals, many of them ex-Clintonites who flocked there after Clinton left office. It is well documented that Freddie and Fannie contributed boatloads of cash to liberal political figures, Obama being the second from the top of the list despite only being on the take for three years.
Noticing the dangerous condition of Freddie and Fannie George Bush attempted to regulate or stop the problem ELEVEN DIFFERENT TIMES BETWEEN 2001 and 2007 and ANOTHER 18 TIMES IN 2008 BEFORE THE CRASH. But since Freddie and Fannie had become a piggybank for the liberals each attempt was rebuffed.
So now that the house of cards has toppled, a house of cards constructed out of liberal quotas, it's the liberals who are saying this is all Bush's fault and that they have the moral high ground to fix this problem and that you should vote for Obama because McCain (who also warned about Freddie and Fannie multiple times) = Bush and Bush is responsible for our economic problems. And the sheeple of America are buying it.