'It's Europe's fault. I inherited this problem': Obama refuses to accept responsibility for financial crisis after Dow goes into freefall sparking panic on Wall Street

Daily Mail
*Obama blames problems in Europe, which have 'washed over' to U.S.
*President says he inherited problems when he entered the White House
*Asian markets plunge for another day, with Hang Seng down 5.7 per cent
*Nasdaq and S&P down seven per cent on Monday while Dow Jones falls 600
*But U.S. markets rebound today - with indexes opening up two per cent
*Tension builds between White House and rating agency Standard and Poor's
*S&P warns it could downgrade U.S. rating further if no fiscal improvement
*Also lowers credit ratings of mortgage lenders Fannie Mae and Freddie Mac