Years ago, I was working in Mexico City and enjoying lunch in one of those wonderful "Zona Rosa" restaurants. I was catching up with a couple of Mexican friends who happened to be PAN-istas, or members of the conservative party. (Back then, the PRI was still governing the country, and PAN never thought that they'd elect a president. They did in 2000 and 2006.) It turned out that President López-Portillo was delivering his "informe," or the Mexican version of the State of the Union speech, that day. Let me add some context. Mexico was reeling from a February devaluation and more currency collapses in August. It got so bad that a Mexican delegation was sent to Washington, D.C. for an emergency meeting with President Reagan and then-Treasury Secretary Regan. It was a very bad summer for Mexicans, and capital flight was the order of the day. López-Portillo's informe was a boring speech, full of numbers and "I did this" and "I did that." At one point, López-Portillo dropped the bomb. ....
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