When the President Cried

The atmosphere was one of solemnity as well as expectation on that Wednesday of 1982. In a few minutes Jose Lopez Portillo would deliver to the nation his state of the union message, the last one of his six-year term. On those days Mexico was, in the words of its finance vice-minister "In a temporary liquidity problem" Actually the country was broke.

Ever since 1981, when the oil prices suddenly dropped Mexico faced a terrible recession, a large proportion of the state's expenses were financed with the sales of this product which was extracted by millions of barrels. Early in 1982 Lopez Portillo -who once said that "President who devaluates gets devaluated"- promised to defend the peso "As a dog" Weeks later he devaluated and got devaluated. Inflation was sky-high and everyone, from the worker class in the border cities to the Millionaires in Mexico City bought as many dollars as possible. In a desperate measure the Mexican government closed the exchange market.

With his credibility, as well as his approval rate on the floor the President was expected, at the very least to acknowledge the responsibility for the economic disaster which indeed he and his economic advisors provoked with their arrogance and irresponsibility. He did not, the President found the country's bankers guilty for the debacle, and he acted in consequence. "I have signed two laws, one, that nationalizes the country's private banks" This was followed by a rain of applause from the PRI legislators who saw this as a Courageous and patriotic decision. Lopez Portillo was acclaimed when in a phrase that became historic he laid the responsibility of Mexico's problems to the private investors: "They have ransacked us, the time is now, Mexico is not finished, they will not ransack us again".

Of course, the President never desired for this to happen, he loved his country, he would have done anything for Mexico, but that was not an excuse for what happened. "I am responsible for the wheel but not for the storm" Then Lopez Portillo, remembering the country's dispossessed, whom he asked for time and forgivenes at the very beginning of his rule, broke into tears. The President cried in front of Mexico's political class, millions of viewers saw this as another drama of the many more they daily saw on television. Lopez Portillo loved his country, he defined himself as a macho, he knew that men don't cry. But sinking his country into the abyss of poverty was more than what he could stand. Pancho Villa was a macho too and he cried very often.

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