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Back to the barricades: free markets are under attack again.

SEPTEMBER 24, 2008, should go down in the history books as a day of infamy. And clarity.

That's when President George W. Bush looked into the eyes of anxious Americans and told them they weren't being nearly anxious enough. "America could slip into a financial panic," he warned (or was it threatened?), just hours before Washington Mutual became the biggest bank to fail in U.S. history without generating as much as a fluttered eyelid from blase depositors (including me). "Millions of...

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