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IN EARLY JUNE, THE CONSERVATIVE WASHINGTON POST columnist Sebastian Mallaby wrote: "Enron has created a natural moment for a smart assault on capitalist excess. The wonder is that political leaders and social activists alike do not seem to have seized it." By July, President Bush signed Sen. Paul Sarbanes' (D-Md.) accounting-reform bill into law, but surely that small victory doesn't fit Mallaby's definition.
Why hasn't the moment been seized? It's been almost a year since Enron evaporated and two years since the "new" economy lost its giddiness. But where's the grass-roots groundswell? What happened to all of those daring anticorporate protesters who paralyzed ...