How Ed Markey Embraced Financial Crisis.

Via Glenn Reynolds:

Let me put it in terms a smart financial journalist like Brauchli can readily understand. On Wall Street, financial crisis destroys jobs. Here in Washington, it creates them. The rest is just details.

For the Ruling Class, crises are a golden opportunity.  Tim Noah

"Isn't this exciting?" Rep. Ed Markey enthused to me on Oct. 19, 1987 ("Black Monday"). A young congressional correspondent for Newsweek with nary a stock or bond to my name, even I was taken aback by Markey's undisguised pleasure. When you stop and think about it, though, it makes perfect sense. Modern Washington owes its very existence to the 1929 crash, which occasioned a vast expansion of the federal government under President Franklin D. Roosevelt.