The title of John Perkins’ latest book, Hoodwinked: An Economic Hit Man Reveals Why the World Financial Markets Imploded–and What We Need to Do to Remake Them, comes from a conversation the author had with Panama’s populist head of government, Omar Torrijos, in the late 1970s. Perkins describes that he was trying to convince Panama to assume huge World Bank loans, which would bankrupt Panama, and thereby ensure that the US retained control over the Canal. But Torrijos wasn’t interested.