With the near collapse of the financial system in 2008, the Bush administration, with the Republican party in control of both houses of Congress, took aggressive, unprecedented action.

FORBES: Political Gridlock Can Prevent A Quick Solution To The Next Big Crisis

When the crisis first arose, the left's explanation was that it was caused by corporate greed, primarily on Wall Street, and by deregulation of the financial system during the Bush administration.

WSJ: Peter J. Wallison: Barney Frank, Predatory Lender

The Bush administration's proposal to bail out the financial system is the centerpiece of what would be the most sweeping economic intervention by the government since the Great Depression.

CNN: Obama blames lobbyists, politicians for financial crisis

That's not to mention housing, the financial system, and a whole host of other events that we encountered at the beginning of our administration.

WHITEHOUSE: Press Briefing

"Despite corrections in the marketplace and instances of abuse, democratic capitalism remains the greatest system ever devised, " he told a packed audience at the U.S. Chamber of Commerce Friday morning, defending his administration's recent plans to flood the financial system with capital and to buy shares in banks in an effort to unclog the credit markets.

FORBES: Magazine Article