Nope. The Democrats did that.
Why did the economy tank? Because the left-wing sub-prime mortgage fiasco started under Slick Willy Clinton, and was overseen by Barney Frank, and it finally blew up under Bush.
Sept. 30, 1999 - New York Times - "Fannie Mae, the nation's biggest underwriter of home mortgages,
has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits...."
The article even had a warning:
"In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times.
But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's."
BINGO!
And confirmed by the NY Times.
Fannie Mae Eases Credit To Aid Mortgage Lending - NYTimes.com