Read the whole thing here.
And how soon do you think it will be before Republican ideologues start blaming Obama for making it worse? Grover Norquist is already making the claim that the bear market is a result of the 2006 election -- he says investors started dumping stocks because they were afraid of the inevitable tax hikes coming down the road. How do you fight that?
To some extent you can't fight it -- people will believe what they want to believe. If they can make FDR the cause of the Great Depression, they can do anything. But one thing progressives can do is make sure that the story of the Bush administration is told, in all respects. There's going to be huge pressure from the usual suspects to let bygones be bygones, to forget about everything from torture to reckless disregard of financial warnings. But I want truth and reconciliation across the board, and progressives have to make it clear that it was an ideology, not an act of God, that made this crisis possible.