Moron - the crisis we have is a credit crisis.
Too many people, including banks, government, financial institutions, and individuals, borrowed far too much and cant pay it back.
In fact, we had an asset bubble based solely on the availability of cheap credit. Without access to credit, the car companies would not exist since people dont pay cash for cars, they get loans.
The same with the stupid prices for homes. Without the access to cheap mortgage money that was thrown at anything with a heartbeat, the home prices would not have jumped the way they did.
Its no different with "higher education." The only thing sustaining insane college costs is the access to cheap school loans.
However, its over. Its time to pay the bills and people cant borrow anymore because the banks are sitting with too many bad loans and bad debt.
Blaming it on GWB is just stupid. He helped the mess along no doubt, but this problem was building for a long long time.