Wouldn't they then have to admit that it was Clinton's Crash and wouldn't they also have to admit that this occurred not long after Robert Rubin gleefully announced that he and the other Clintonistas had "overcome the business cycle."
I remember back in 1999 (maybe early 2000) when magazines like Time and Newsweek were doing cover stories about how wonderful the stock market was and how everyone was making money, etc. Contrast that to now all they want to talk about is a housing bubble.
Housing bubbles have happened before. The last time there was anythign like a technology bubble was in 1929.