Its more complicated than that. US Property prices were rocketing, CDO's were taking subprime mortgages mixing it with prime giving you a "beef pattie" whilst b

Its more complicated than that. US Property prices were rocketing, CDO's were taking subprime mortgages mixing it with prime giving you a "beef pattie" whilst being rated by the agency's as steak. Unlike Europe, the US have plenty more land, a lower population so their housing market growth was unsustainable. The US population taking on massive mortgages helped make the Great Recession, the banks facilitated it and the world suffered. Sure the US banks could have been more selective who they lent money to, but the US financial system was a boom and bust just waiting to happen and it took about 10years to blow up. So who exactly was to blame considering there are various rating's agency's from around the world commenting on matters, various banks from around the world lending to US markets, US legislation and the US population? The buck stops with the president, so which president do you blame considering they all played a part in this as well?