Thoughts On The Bailout
A few days ago, I tried to explain, in layman’s terms, how we ended up in this financial mess. I had this to say about the bailout:
We can debate whether or not this bailout should or shouldn’t occur (for the record, I’m against it), but in an election year, there’s nothing that’s going to derail this monster.
And it looks like today’s news proves that analysis
correct momentarily premature. It’s clearly not in “stick a fork in it” stage yet, and you know that round 2 is on its way and will not be deterred.
So there’s still time to call it a stupid decision. I don’t have the time to devote to that today, so I’ll turn you over to the ever-talented Warren Meyer of Coyote Blog, who skewers the bailout plan. As they say, read the whole thing.