I guess economists are to blame because you weren't paying attention and you can't even be bothered to use Google to educate yourself.

http://nicedeb.wordpress.com/2008/09/21/the-white-house-warn...

http://www.youtube.com/watch?v=cMnSp4qEXNM

Economists were warning of the housing bubble from the beginning of the decade. Republicans were warning of the problems with fannie/freddie from as early as 2002.

This is the closest to the right margin I've ever seen a discussion go.