“This ‘crisis’ is really a big fake that the policy response can turn into something real. In the same way that the Bush administration turned the criminal events of 9-11 into an act of war requiring a globalized military response–which has generated more terrorism and destruction–it is taking some splashy business failures in a few sectors of the economy, failures which signal the existence of an economic downturn, and attempting to turn them into a rationale for full-scale financial socialism that really would be our doom.” Read the whole post.