There are parts of this I agree with and parts I do not. If my understanding of mercantilism is sound. Neo-mercantilists are nothing more than global socialists. NAFTA should have taught us that this won't work. Bush allowing Mexican trucks to pass through the USA unchecked supports a neo-mercantilist ideal. On the other hand, the current administration has given tax breaks and spent gobs of $$$. Going against the mercantilist ideal.
In a nutshell. Bush is desperately seeking a legacy and Greenspan is trying to take the focus off of his completely missing the mark on the US housing market.
Although, it isn't his fault millions of people went with an adjustable rate mortgage.