A bit of an antidote to certain, ah, reflexive ways of thinking:
Bad Times Visit Our Betters in Europe
LONDON — Think that credit collapse that triggered the Bush administration’s $700 billion bank bailout was necessary because of Republican hostility to regulation and the ineptness of President George W. Bush?
If it were that simple, then British Prime Minister Gordon Brown and his Labor Party would not be squirming, and the United Kingdom would not be swimming in staggering sums of debt.
Continue reading England’s credit crisis: different players, same result.