Pointing the Finger

Matthew Yglesias blaming Bush for his inept ability to look forward:

"Bush was specifically and repeatedly warned about the need to take regulatory action to avoid a financial system meltdown, and chose to ignore those warnings because he’s a really bad president. Thanks to his indifference, incompetence, or perhaps malice, millions of people will wind up losing their jobs and suffering dire consequences."

But I don't see this crisis as all the Administration's fault, particularly since the 535 legislatures who should have been really intimately involved with their constituencies dropped the ball here as well, especially on regulation and on the housing bubble. I imagine Yglesias knows this too. But it's another failure on Bush's record, rack it up. The Political Animal has more.