“Life may not be exactly pleasant, but it is at least not dull. Heave yourself into Hell today, and you may miss, tomorrow or next day, another Scopes trial, or another War to End War, or perchance a rich and buxom widow with all her first husband's clothes. There are always more Hardings hatching. I advocate hanging on as long as possible.” H. L. Mencken
October 2, 2008
Cato Institute Scholars Make The Case Against The Bailout
by Doug Mataconis
Here is a great compilation of the media appearances that various scholars from The Cato Institute have been making all over the media during the past two weeks making the case against the bailout:
Shadegg and Coburn favor the bailout? This is disappointing.
I don’t know about Coburn, but Shadegg says it’s because of the FDIC limit increase and the mark-to-market change, but I’m sure the $17b for solar energy helped too. I guess everyone has a price.
I am pretty sure the pork had everything to do with it. I believe the mark-to-market rules were already changed on Tuesday if a heritage foundation article is correct. The increase in the FDIC limit could certianly be done without adding it to a $700 billion bill. It would pass easily on its own. Now the pork might have a harder time passing on its own or at least being discussed it might make them look bad. By adding it to this bill they can have their cake without any pain of discussing it. He is nothing more than an opportunistic politician.