Watching Gov. Chris Christie of New Jersey and Mayor Michael Bloomberg of New York order businesses to close and citizens to evacuate their homes in advance of Tropical Storm Irene reminded me of the actions taken by President George W. Bush, Treasury Secretary Henry Paulson, and the Federal Reserve during the financial crisis.
The similarities are striking. In both the financial crisis and Irene, the government actions taken were exceptional and involved depriving people of private property without the due process required under the Fifth Amendment.
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