The great fear that hung over the business community in the 1970s was death by regulation, and the great goal of the conservative movement, as it rose to triumph in the 1980s, was to remove that threat - to keep OSHA, the EPA, and the FTC from choking off entrepreneurship with their infernal meddling in the marketplace.

Just as the financial crisis has created toxic assets and 'zombie' financial institutions, so has it transformed conservatism into a movement of the living dead.

Financial regulation is the next item on the political horizon, and it doesn't have to be the deathly dull wonk-battle that it sounds like. In fact, if the Democrats do their job, it can just as easily become a platform for addressing the greatest issues of them all.

Under the administration of George W. Bush, you will recall, federal spending grew pretty significantly. At the same time, the number of people directly employed by the federal government shrank. One of the factors that explained the difference was contracting.

Conservatives may believe that impoverished borrowers destroyed Wall Street. But we liberals will not fool ourselves that stupid bankers sank conservatism for good.

In small towns, bored teenagers turn their eyes longingly to the exciting doings in the big cities, pining for urban amenities like hipster bars and farmers' markets and indie-rock festivals. Like everyone else, they want the vibrant and they will not be denied.

Corruption is uniquely reprehensible in a democracy because it violates the system's first principle, which we all learned back in the sunshiny days of elementary school: that the government exist to serve the public, not particular companies or individuals or even elected officials.