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I don't think you can blame everything on a President. There were a lot of people at fault here, many of them being greedy bankers who tried to squeeze every dollar they could out of the market.
But I do blame him for not seeing this coming. It was widely reported by many experts that we were building up a massive bubble thanks to bad mortages that would eventually crush the system. Not to mention that he never once stepped in on predatory lending practices that helped cause this mess.
As President, he should have seen what was happening to his citizens and either made some heavy handed comments or helped push legislation that would have curbed the predatory practices. Not all his fault, but he deserves some blame.
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