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Crises and crisis rhetoric have often served as catalyzers to impose sacrifices on populations through economic and political reform. Examples include the “shock doctrine” that accompanied structural adjustment programs in the eighties and nineties; “branding” crisis as an electoral campaign strategy in countries like Bolivia in 2002; and the “terrorist threats” that emerged with 9/11. Paradoxically, the frequency with which the notion of crisis is deployed politically seems to contradict the very definition of crisis. While the word crisis conveys the temporary, unstable and extraordinary character of a state of affairs, crises seem to thrive and proliferate. This paper is a critical exploration on the political work crises make possible, with a focus on the financial crisis of 2008 and its discursive ramifications to date. Our approach is historical, discursive and comparative, as we analyze media representations of the subjects of crisis in Latin America and Europe, as well as different moments of policy implementation like former structural adjustment programs and the most recent financial crisis. We first argue how structural adjustment programs should not be regarded as deeds of foregone times, given the constant refurbishing of the policies characteristic of them, and the reiterated discourses of crisis that justify intervention. Second, despite the demobilizing effects of neoliberal reforms and discourses of crisis, we explore the conditions under which collective actions also continue to challenge the dominant narrative of crisis and its justification of exception.