Both parties share some of the blame, but the current President's is not as much at fault as one would think. Also, there were several votes to fix this and each time it went along party lines.
This was decades in the making, and I'm not saying there weren't Republicans involved in this mess but the biggest beneficiaries were Democrats and they were the ones that were trying to block all increases in regulation. The Democrats were also saying there wasn't even a problem.
Again: 2003, President Bush tried to get this fixed and it was shot down in the senate.
2005-2006 John McCain and other Republicans tried to get this problem fixed and again the Democrats blocked it.
2007 another bill by the Republicans including you guessed it Senator John McCain as a cosponsor was made to try to fix this problem, and the vote went along partisan lines again.
So the Republicans were actually trying to fix this issue, and one can look at Senate voting records.
Bleh it's reairing right now at 11:08 AM.
Last edited by GarfieldJL; 10-05-2008 at 12:08 AM.
Reason: Cable company can't get their TV guide right