Magazine February 23, 2015, Issue

Government-Sponsored Meltdowns

Hidden in Plain Sight: What Really Caused the World’s Worst Financial Crisis and Why It Could Happen Again, by Peter J. Wallison (Encounter, 368 pp., $27.99)

Peter Wallison of the American Enterprise Institute has written a comprehensive new book on the 2008–09 financial crisis. It is your duty to read it — and it feels like a duty, too.

That is not intended as a slight to Wallison, one of the best minds on the right when it comes to issues of this sort. Rather, the book is an illuminating instance of why friends of the free market so often win the argument but lose the fight. On the one hand, we have the likes of Barack Obama, Elizabeth Warren, Barney Frank, the Occupy clown show, etc., …

In This Issue

Articles

Politics & Policy

A Hand Withheld

It’s rare for a president to conclude a State of the Union address with a long passage noting that his presidency “hasn’t delivered” on one of its central promises. President ...

Features

Politics & Policy

Foreign Policy by Map

George W. Bush left office with his activist foreign policy in disrepute. Fast-forward six years: President Barack Obama has pursued, in some respects, the opposite approach, and yet he has ...

Books, Arts & Manners

Politics & Policy

Midcentury Mores

Edward Mendelson is one of our mandarin humanistic intellectuals — Lionel Trilling Professor in the Humanities at Columbia, literary executor of the estate of W. H. Auden, an expert on ...
Politics & Policy

Bloody Crossroads Redux

There have been two great political wars this Oscar season, and both have involved American liberals’ complex relationship with the movies. What makes this relationship complicated is that liberals have ...
City Desk

The City, from Afar

The road follows the right angles of everything out here, farms, townships, counties, states. On either side, fields showing stubble. Thick gnarly trees mark homesteads and cemeteries. Where the land ...

Sections

Politics & Policy

Letters

Contraception, Continued Robert VerBruggen agues that pro-lifers should support the promotion of contraceptives that sometimes may act as abortifacients (“On a LARC,” December 31). The death rate for unimplanted embryos is ...
Politics & Policy

The Week

‐ Vaccines seem to do strange things to the mind — at least for politicians. ‐ Wisconsin governor Scott Walker took an early, if narrow, lead in a poll of Iowa Republicans. ...
Athwart

Lifespan Liberalism

There’s no shortage of studies that attempt to show how liberals and conservatives are different species who happen to share hominid form. Liberals are conveniently revealed by Cold Science to ...
Politics & Policy

Poetry

THE MESSENGER This blind matter troubleth my wit.                                                              Everyman We waited for the messenger all night, A mixed report though certainly it shocks, When summoning what little souls we have He drums them like dumb echoes ...

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