Xi Jinping Is Looking for Someone to Blame for China’s Property Bust

With China’s property bust threatening to sink the country’s economic recovery, Xi Jinping is looking for someone to blame.

After putting the billionaire founder of Evergrande, a heavily indebted property firm, under investigation for possible crimes, Beijing is expanding its probes to include bankers and financial institutions that facilitated developers’ risky behavior, people familiar with the matter say.