For One Brief Shining Moment We Had Camelot in the Midst of Crisis

Remember that point in the presidential campaign shortly after the stock market began its torturous decent when almost everyone was scared and conceding--including the great anti-regulator, John McCain,--that the reason for the malaise was the government's failure to regulate private industry? Remember when we almost rediscovered the virtues of regulation?

I miss that moment. I wonder what happened to it. I wonder why it evaporated so quickly.