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No one should be surprised at the security reaction to this event. However, I don't think it is driven by any analysis of whether banning liquids etc. really will reduce overall threat.
Imagine you are an airline employee, or a government official, or a security "expert" and this issue is splayed all over the news. What if you don't make the obvious step of banning stuff like these terrorists were going to use -- and then an incident using these materials actually happens? Talk about a career-limiting event.
The people in charge at airports have to do this now -- they'd be risking their jobs and maybe even risking jail if they didn't.