E.J. Dionne: 'The Panic of 2008'

Because every good crisis deserves a name:

This is the third time in 100 years that support for taken-for-granted economic ideas has crumbled. The Great Depression discredited the radical laissez-faire doctrines of the Coolidge era. Stagflation in the 1970s and early '80s undermined New Deal ideas and called forth a rebirth of radical free-market notions. What's becoming the Panic of 2008 will mean an end to the latest Capital Rules era.

Oddly enough, the title of E.J. Dionne's piece is, "Capitalism's Reality Check" in WaPo and "The Death of Reaganomics" at Truthdig. I think I prefer the latter.