Lawrence Kudlow assures us that any assets bought by Treasury under the Paulson plan will be 100% owned by the taxpayer, which may even yield a profit to the taxpayer since the target assets are “now very likely under-priced because of the chaotic and frozen market conditions.” You see, the Treasury will be able to buy the assets in a “market auction” for like “20 cents on the dollar,” and maybe even sell them later for a profit. As such, Kudlow and his gang of supply-side apostles are pushing House Republicans to capitulate to the bailout by means of chop-shop … Continue reading The Greatest Fool of Last Resort