Bush: Take Responsibility for the Financial Crisis

A recent New York Times article discussing the financial crisis our country is in puts it plainly: "The story of how we got here is partly one of Mr. Bush's own making, according to a review of his tenure that included interviews with dozens of current and former administration officials."

President Bush is trying to dodge responsibility, saying that he is "looking forward to the true history of the financial crisis being written" and that there's "no question part of the crisis came about because of the excesses in lending in the housing market." But the truth is that his administration ignored warnings about housing market problems, refused to confront irresponsible lending and let Wall Street build mortgage-backed securities into a massively complicated Ponzi scheme that wrecked the global economy.

The financial crisis is the result of calculated deregulation and gross negligence by the previous administration and congressional conservatives. Tell the 43rd U.S. president, George W. Bush, to take responsibility for the mess he and his administration has created!
Dear President Bush,

Your recent speech at the American Enterprise Institute about your domestic policy legacy suggests that you are not taking the responsibility you should be for our country's current financial crisis. I urge you to come clean about the failure of your administration's policies in regard to the economy.

In the speech, you said that you are "looking forward to the true history of this financial crisis being written," adding that there's "no question part of the crisis came about because of excesses in lending in the housing market." But a recent New York Times investigation found that "the story of how we got here is partly one of Mr. Bush's own making, according to a review of his tenure that included interviews with dozens of current and former administration officials."

Your administration ignored warnings about housing market problems, removed Wall Street regulations and refused to enact proposed mortgage regulations - all while cutting taxes for the wealthy and launching an expensive and misguided war in Iraq.

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The American people deserve an explanation - and we demand that you step up and take responsibility for your actions.
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