Has a US president ever appeared to be so weak, so useless, so unneeded, and so uninterested in a crisis as Bush does right now? I can't recall one.
I still think my theory of the impact of rising oil prices is a good one. What popped the housing bubble? It was a bubble, sure, but it was popped by the oil bubble. From that came all the decline and lock-up of the credit markets, etc. The fundamentals of just living became significantly more expensive, and energy is the one place you can't cut back on -- you have to have so much gas a week, and so much food, and so much heat or A/C. You can't live without these. And so the difference came out of mortgage payments.
At least, it's worth mentioning.