There are 3 major components to the creation of the great financial crisis. NONE of them were primarily political, no president and not congress made it happen. They only contributed a slight bit by repealing Glass Steagall and putting in the community reinvestment act, both of which are Clinton era changes. Everything else was outside the US or political hands, but was central bank policy. 1. The China -> commodity bubble. China used low exchange rates after its devaluation in 1995's ba