I was reading Glenn Greenwald‘s gloomy assessment of the prospect that the bailout would get passed despite everyone’s objections and it made me think that there is a crucial lesson of this wonderful development that should not be missed. As Murray Rothbard, JRR Tolkien, the Bible and so many others have counseled: Do not give in to despair! Among other important reasons is that you might just win despite seemingly insurmountable odds. But if you don’t even try there really is no hope.