¿Quién tuvo la culpa de la burbuja (que algo de bueno, quizás, dejará)? ¿El mercado o el estado? Para los progres americanos, sólo hay un motivo de mayor regocijo que echarle la culpa al mercado: echársela a Bush. Si para eso hay que abandonar la idea de que fue el mercado, vaya y pase:
Mr. Bush, according to several people in the room, paused for a single, stunned moment to take it all in.
“How,” he wondered aloud, “did we get here?”
Eight years after arriving in Washington vowing to spread the dream of homeownership, Mr. Bush is leaving office, as he himself said recently, “faced with the prospect of a global meltdown” with roots in the housing sector he so ardently championed.
There are plenty of culprits, like lenders who peddled easy credit, consumers who took on mortgages they could not afford and Wall Street chieftains who loaded up on mortgage-backed securities without regard to the risk.
But the story of how we got here is partly one of Mr. Bush’s own making, according to a review of his tenure that included interviews with dozens of current and former administration officials...