Time Immortal

Well, sorta.

I think the $700 billion “bailout” is just a bad idea: soft socialism, almost certainly doomed to failure, and a waste of money. I think it’s an inexcusable act of paying even more money to the banking bigwigs who steered the U.S. economy into the mud into the first place, a reward for their dismal performance and greedy behaviour. And I think it’s a distraction, a whitewashing of the complicity of the Democrats in the whole affair, from as far back as the 90s.

Rehmat thinks it’s a conspiracy by the Jooooooooooooos.

But hey, at least we agree that the United States government shouldn’t have done it!

Update: David Warren cites one economist’s humourous remarks on the “usefulness” of the bailout:

Here is how John Cochrane, Myron S. Scholes Professor of Finance in the University of Chicago, characterized the bailout, in an interview with Fox News: “The legislation is like this: some boats are sinking, so rather than bailing those boats out, you blow up the dam and drain the whole lake.”

What a disaster this will be. In my own limited considerations of the implications of the bailout, and in weighing its potential positive outcomes against its probable negative outcomes, I’m reminded of Mark Steyn’s incomparable turn of phrase: “if you take a quart of ice cream and a quart of dog feces and mix them together, the result will taste considerably more like the latter than the former.”

Update: Welcome, Steynians!