Well what do you expect??

TheHill.com - Pelosi: Dems bear no responsibility for economic crisis:

"House Speaker Nancy Pelosi, when asked Tuesday whether Democrats bear some of the responsibility regarding the current crisis on Wall Street, had a one-word answer: “No.”

Pelosi (D-Calif.) ripped President Bush’s “mismanagement” of the economy and a lack of regulation that led to the current situation."

I think either side would say 'no' to such a loaded question. But yes they do bear some of the blame, just not all of them - after all there are some newer ones in there.

So who's to blame? Everyone, no one comes away clean on this one. The lenders, the regulatory commision, the Fed Reserv, the Congress (esp) and the Pres for letting himself get played, Wall street, greedy CEO's ... and the federal government for setting up the 'Bail Out' mentality that has every big corp sticking a hand into the taxpayers pocket.

Wall Street is more likely to be effected by news reports than anything else -- and even then it would be more effected by what is coming out of Congress' mouths than the President's. And for the last year and a half all you have heard from Democrats (the party in charge of both houses) is that the economy was collapsing -- they created a self-fulling prophesy!

The President doesn't have as much to do with the Economy as people think. While he can make recommendations, ultimately it is up to the Federal Reserve to decide what to do to keep the economy going ... they screwed up. They taxed high and lowered interest rates - that doesn't stimulate economy .... they should have done the exact opposite (lower taxes, raise interest).

While I'm sure the new guy is good ... I don't think he really has a handle on things ... it also didn't help that the media still went to Greenspan when they wanted to know about the economy and what should be done instead of talking to him or some anon. economics professor some where.

the media acted as if Greenspan was still the one in the position, which undermined the new guy's authority and credibility.

now you noticed I keep calling him 'the new guy' ... I've been giving you a chance to see if you could come up with his name. I even had to look it up on Wikipedia because you so rarely hear his name in he news ... especially when it comes to a move the Reserve is making ....

so who is the new guy? highlight the next line to find out:
Ben Bernanke. He has a BA in economics from Havard and his PhD from MIT; he taught at Stanford, NYU, and Princeton.