Bush Denial Syndrome

In an otherwise good column about the foreclosure crisis, Joe Nocera writes:

Inexplicably, the Bush administration ignored the mounting foreclosure threat.

"Inexplicably"? Really?

Yes, some things the Bush administration did remain inexplicable. But this is not one of them. We know that the administration had no effective crisis response mechanism (see: New Orleans), and we know that the administration had a pathological abhorrence to intervening with important corporate interests. What more remains to be explained about their non-response to the imminent mortgage crisis?