This is how neoliberalism works: first it moves heaven and earth to induce you to manage your own portfolio and assume more risk; then it demonizes the victim when the entire structure comes crashing down, as it inevitably must. The most famous (and consequential) attack on the poor for their indebtedness was the rant on the floor of the Chicago Mercantile Exchange by Rick Santelli, which is credited in retrospect with jump-starting the Tea Party in the United States. Santelli was catapulted to instant fame after his five-minute outburst on CNBC in February 2009—where he decried government bailouts, called struggling home owners "losers" and speculated aloud that a new Tea Party might be needed—went viral.

Philip Mirowski, Never Let a Serious Crisis …, loc. 351