The mortgage meltdown is being blamed on President Bush by Democrats, because, according to one I saw on TV, he is President now so it's his fault even if he tried to do something to solve the problem before it blew up. It appears that if you follow the money, it mostly flowed to Democrats. Obama says that McCains campaign manager collected $2 million as a lobbyist for Fannie Mae and Freddy Mac. But, according to Peter Wallison of AEI, all lobbyists in Washington were in the pay of those firms to the tune of $75 million per year. Barney Frank, Chuck Schumer, and Chris Dodd all supported Fannie Mae and Freddy Mac, and worked to prevent more regulation of their activities, like requiring them to have more capital reserve, etc. Here is an article about this by Mac Ranger, who is a radio talk show host that I have never heard, so I don't know how reliable he is. But, what he says here is correct based on what I recall.

http://macsmind.com/wordpress/2008/09/22/fact-financial-crisis-came-because-democrats-failed-to-act/