Because politics is a game. What you said is true and goes all the way back to Carter when he said everyone should own a home regardless of how poor they are. What they are failing to mention are the ridiculously low unemployment numbers and ridiculously high Dow numbers we have seen even in the wake of the worst terror attack ever in this country.

Because in Politics they always gotta blame someone.

Because the captain on watch is responsible when the ship hits the iceberg, not the one who charted the original course. He's the one who had the opportunity and responsibility to see the collision coming and take corrective action. Nobody can know for sure all the possible unintended consequences of a particular policy in advance. That's why you have to be able to observe how things are going and correct. If you're in charge, and you don't do that, you're more to blame than the person who cooked up the original policy.

truth is not the politicians to uncover.

Because it was the Bush administration and its allies in Congre$$ which led the charge on breaking down oversight and regulation.

There are plenty of criminals on both sides of the aisle, although the lion's share of the blame and the spoils appears to go to the Democrats. The problems began in Congress during the Carter administration under the infamous Community Reinvestment Act (CRA) that incited risky lending practices in the first place. http://en.wikipedia.org/wiki/Community_Reinvestment_Act This criminal behavior (under the guise of government assistance) continued with the Financial Institutions Reform Recovery and Enforcement Act of 1989 (FIRREA), enacted in the wake of the scandalous Savings And Loan crisis … http://en.wikipedia.org/wiki/Financial_Institutions_Reform_Recovery_and_Enforcement_Act … and under the often forgotten FHEFSSA … http://en.wikipedia.org/wiki/Federal_Housing_Enterprises_Financial_Safety_and_Soundness_Act_of_1992 … and the repeal of the depression era Glass-Steagall Act only added accelerant to the conflagration … http://en.wikipedia.org/wiki/Glass-Steagall_Act Pressure was exerted on lenders to extend credit to riskier customers and for higher LTV than ever before. The Clinton administration encouraged more reckless expansion of lending using incredibly risky fractional reserve banking policies … http://en.wikipedia.org/wiki/Fractional_reserve Partisan lies about "de-regulation" are untrue. The countless alphabet agencies that oversee banking and mortgage lending did not magically vanish! The SEC, FFIEC, OCC, OTS, FDIC, NCUA, Federal Reserve, and dozens of other State and Federal Agencies certainly bear a significant degree of culpability in the rape of the shareholders (and soon the taxpayers). http://www.sec.gov/answers/bankreg.htm Then there is this scary move by the privately-held Federal Reserve bankers at the root of the problem ... http://www.federalreserve.gov/newsevents/press/monetary/20080914a.htm Then we have Marxist social engineering firms such as ACORN and NLIHC lobbying Congress for more power, while ACORN advances its sideline industries of election fraud and extortion. http://en.wikipedia.org/wiki/ACORN#1988-1998:_Focus_on_housing Their Democrat benefactors in Congress ALMOST managed to institutionalize a 20% ACORN “slush fund” in the first draft "bailout" legislation, but it was (thankfully) voted down. But much of the corruption centers around HUD, Fannie Mae and Freddie Mac. This is where it gets really interesting. Notice the bipartisan support in this trail of graft … http://www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html http://chronicle.augusta.com/stories/100108/edi_477790.shtml (Huh?) http://en.wikipedia.org/wiki/Franklin_Raines Other resources … http://en.wikipedia.org/wiki/U.S._Department_of_Housing_and_Urban_Development http://en.wikipedia.org/wiki/Fannie_Mae http://en.wikipedia.org/wiki/Freddie_mac http://en.wikipedia.org/wiki/Federal_takeover_of_Fannie_Mae_and_Freddie_Mac http://en.wikipedia.org/wiki/Proposed_bailout_of_U.S._financial_system_(2008) http://en.wikipedia.org/wiki/Liquidity_crisis_of_September_2008 http://en.wikipedia.org/wiki/Financial_crisis_of_2007–2008 http://overthehilloracles.wordpress.com/2008/09/09/the-obama-fannie-freddie-connection/ History will disclose the final details, but a bailout is not the answer. We need to allow the banks to collapse, the guilty parties jailed, and keep the taxpayers off the hook for this insidious banking scam.