Who's To Blame?

Megan doesn't approve of Democrats blaming Bush for the current crisis:

Democrats seem unable, or unwilling to grasp, that to the extent that this is a regulatory problem, the seeds were laid under Clinton, not Bush.  There simply haven't been any significant financial regulatory changes over the last eight years that we can point to as the culprit; nor does "stronger enforcement" work as the solution to a crisis when the companies in trouble seem to have been in full compliance with the law.

So no responsibility for not recognizing the problem and not doing anythng about it for almost eight years? I'm not an expert but blaming the current meltdown entirely on ... Clinton seems a stretch to me.