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Recession


Bush presided over bank bailout

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I was surprised by a Wednesday letter to the editor, which indicated that President Obama's "regime" caused the recession by forcing the banks to make home loans to people who could not afford them. ("Obama told banks to make loans"). I realize that many like to blame our president for every problem our country encounters, but I think it might be important to note that collapse of the housing bubble and the failure of major banks such as Lehman Brothers occurred in September of 2008, while Obama was inaugurated as president in January of 2009.
George Bush was the president who presided over the financial collapse that initiated the recession, and it was the Bush administration that orchestrated the bank bailout (the Emergency Economic Stabilization Act of 2008) three months before Obama became president.
Mark Bothwell
Sultan

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