I've seen and heard Obama shoulder the responsibility, or offer to, anything that goes wrong that he's involved with... I cannot even remember ONE time that I saw or heard Bush do that.
I see several references to the Community Reinvestment Act, all of them wrong. The CRIA was meant to make sure that banks did not red-line "certain" neighborhoods, nor engage in any discriminatory practices in mortgages. It was an effort to level the playing field for everyone, not just minorities (minorities is Repub-speak for blacks and/or non-whites).
When Clinton signed the bill that repealed the Glass-Steagall Act, it was because Alan Greenspan had assured him that "the market will regulate itself." By the way: the legislation calling for that repeal was proposed by that paragon of capitalist virtue (*cough*) Texas Senator Phil Gramm, also known as Mister Republican.
What compounded the problem was dishonest mortgage brokers and dishonest lenders, the folks who brought you the now-infamous "no-doc" and "lo-doc" loans. Add to that the Wall Street debt-bundlers and the Investment Banks and others who leveraged $1 "in" to $30 "out." When the bubble started to burst in 2006 and 2007, AIG and others were left exposed and when THEY started to crumble, so did everyone else, since AIG was the "insurer of last resort."
Nowhere was "due diligence" performed: not by the mortgage-debt-bundlers, not by the SEC, not by Congress, etc etc etc. There's plenty of blame and shame to go around, but at bottom, it proves that a "market" unregulated is a runaway juggernaut.
All that said, my take on it is that Dubya, Boehner (rhymes with 'loner'), McConnell, Sanford, Plain and a whole Bouquet Of Buffoons are in abject denial and will NEVER admit ANY responsibility for their role, their party's role or their President's role in ANY aspect of the current mess. They are so used to saying 'no' that it is the main word in their lexicon.
At least Obama has manned-up. Is he perfect? No. Is he always right? No. But at least
HE
TAKES
RESPONSIBILITY.
.
In and of itself, that is a refreshing CHANGE.