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Daugherty Everyone has good reasons for using certain terms but is wrong to denigrate the terms used by others. That way the government would be able to leverage its own capital. The shocks (destruction, expropriation) endured by large fortunes fell less heavily there than on the continent, yet Britain chose to impose its own fiscal shock

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The conservatives believed that the marketplace would take care of everything, and that any government intervention was bound to make worse things. Just after noon he sent out an e-mail to a handful of colleagues with an apocalyptic subject line: That less-than-snappy message was what Commerce Secretary Gary Locke tried futilely to explain to reporters seeking a sound bite.

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