I highly recommend this entry on Hotair.com. It lays it all out for you. President Bush, why aren't you shouting this from the hilltops?
Predictably, the Democrats are attempting to capitalize on the story by vaguely linking notions of "greed," "deregulation" and "Wall Street" to the Republicans. But the true fault here lies with the Democrats. A campaign ad is in tall order!
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This really needs to be publicized more. The narrative being pushed by Obama is that the housing/credit crisis was caused by various Bush policies. However, the truth appears to be that this problem was caused by policies implemented by Bill Clinton to expand low-cost housing. Bush actually tried to address this as early as 2003, only to be rebuffed by Democrats who wanted to continue Clinton's policies despite the obvious risks. This is going to be a huge campaign issue and McCain needs to get this information out there somehow.
Obama + Fannie 2005
http://www.youtube.com/watch?v=usvG-s_Ssb0
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