A recent explanation for the subprime crisis offered by the Left was that it was all GWB’s fault (‘natch)

His failure this time around (the argument continues) was to adequately regulate the financial industry.

(don’t for a moment consider the possibility that the financial sector might regulate itself, as it had heretofore for much of its history. Those days are done)

In the thinking of the New World Order, this can’t be remedied from within. Only overarching and all inclusive government could possibly regulate and control any and all societal directions or events.

In the inexorable march backwards, just shelve all those Hayek insights and truths.

Central to Hayek’s teaching is the unyielding fact that human ingenuity is limited, that the elasticity of freedom requires the agency of forces beyond our supervision, that, finally, the ambitions of socialism are an expression of rationalistic hubris…“Whoever,” Hayek notes, “has sole control of the means must also determine which ends are to be served, which values are to be rated higher and which lower—in short, what men should believe and strive for.”