As it becomes clear that BP is hiding the truth, that in fact they do not have the spill under control, the real question for Obama now is whether this is just Katrina or is it something much worse, Chernobyl?
Chernobyl, of course, was the disastrous meltdown of a Soviet nuclear plant that killed dozens immediately and poisoned at least thousands in Russia and beyond. We are likely all to some extent suffering its effects even today.
But beyond the environmental and health disaster, the 1986 accident signaled the end of the Soviet era. Three years later the Berlin Wall fell and the collapse of eastern europe and Russia followed. That was a welcome event in many ways politically and socially but also ushered in an era of poverty and economic inequality that had not been seen in Russia since the days of the Czar. While no rational thinker would advocate a return to Stalinism, the crisis of legitimacy that has plagued Russian politics since is striking.
Here, we have had a series of failures in auto, coal, oil and natural gas and of course the financial, insurance and real estate (FIRE) sector.
The remaining question is whether the feckless leadership of the Obama regime indicates a deeper problem, the genuine inability of government to act as a social governor at all.