Some of the gloomiest economists are the biggest fans of FDR and the New Deal. But FDR famously said "The only thing we have to fear is fear itself." Go figure.
This morning's WSJ includes "How to Combat a Banking Crisis: First, Round Up the Pessimists ... Latvian Agents Detain a Gloomy Economist; 'It Is a Form of Deterrence.'"
One has to wonder if they'll go after the short-sellers next.