The Devil in the Details

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USA 2008

Rothbard! Thou shouldst be living
At this hour. America hath need of thee!

Indeed, if Murray were here, he would have plenty to say about this wretched assault on decency known as the “bailout.” It truly is the ultimate act of prostitution by all involved, and it demonstrates to me that Washington really needs to be walled off and separated from the rest of the world.

From what I understand, this package will pretty much nationalize most of the lending industry (even more than it is nationalized now), make Washington the strong partner in all lending and investment decisions, and even has payouts for the criminal gangs at ACORN and other social activist groups. Other than that, Mrs. Lincoln, how did you enjoy the play?

The Republicans had a chance to be heroic. First, I am sure that the Democrats were offering out-and-out communism, so the Republicans moved in to try to “save” some vestige of private markets. Second, I guarantee you that if that were their intent, then it miserably failed.

Of course, we already saw the Republicans in power, with their K-Street Project and their bloated earmarks and the wars in Iraq and Afghanistan. A pox on all their houses.

4:46 pm on September 28, 2008