Yes, that will be the next Wall Street Journal / American Enterprise Institute / CATO / Fox News line on how the socialist U.S. government caused the financial crisis. At least, that’s what I gather by extrapolation from  Rortybomb’s analysis …

I’m increasingly embarrassed that I ever called myself a Libertarian. C’mon, people, deal: bubbles happen, and that’s a market failure. Your best economist, Vernon Smith, has made a career of demonstrating this, and even proposes a delightfully simple Regulation Lite market solution.

But before we get into that, glibertarians, think: was there a Federal National Bulbous Perennial Commission (“Fannie Boopsy”?) at the root of the Dutch Tulip Mania? I mean, you guys aren’t crazy enough to argue that was caused by government meddling in markets, are you?  Oh, wait: you are.