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For all the complexity of latest American history, we typically tell ourselves one in every of two tales about the transformations our society has undergone within the last century or so. One is a story about deliverance: the struggle of a persecuted minority to secure its historic liberties. The canonical instance is the civil-rights motion, which is understood in these terms by almost all Americans, but within the decades since, progressives have framed every little thing, together with the repeal of obscenity laws and the legalization of identical-intercourse marriage, in roughly the same means.

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Some authorized troubles are too large to escape. When government regulators and fraud investigators began swarming the headquarters of energy large Enron in 2001, it grew to become very clear, very quick, that the former Wall Street darling was never going to bounce back. Buyers dumped their Enron stock as quick as they might, leaving latecomers with once “golden” stock certificates that weren’t well worth the paper they have been printed on [supply: Kadlec].