If you recall, I said that Obama was not president in 2007 when the financial collapse began. You might want to place some of the blame on the adminstration that caused the collapse and failed to act when it hit. The collapse had been going on for some time before Obama was even elected.

The inflation in housing costs were a direct result of Bush's "ownership society" plan where they gave no-doc loans to people who couldn't afford the houses they bought and fell into foreclosure.

The chief culprit in the 2007 collapse was Bush, not Obama. The policies Obama implemented were an attempt to fix the collapse caused by the Bush Administration.