Sep 21, 2008

Something I Never Thought I'd Write

You really should read this Sebastian Mallaby column about the bailout.

He makes a lot of sense, even though he has the lamest name in the history of names. So, go read Sebastian Mallaby and feel proud while you do so. What I'm saying is that it is time to get your fucking Mallaby on.

The newsies (Isn't that what those people who say news are called?) don't seem to be bringing up the fact that most economists think Bush's bailout plan is flat out retarded.
Many of the same economists and opinion-makers who'd provided a bipartisan sheen of consensus to Treasury Secretary Henry Paulson's previous moves have quickly begun casting doubts on the wisdom of a policy that would allow Treasury to purchase without oversight hundreds of billions of dollars of difficult-to-price assets from financial institutions.
But the exciting thing about this mess is that it is happening during an election year, which means you can guarantee our genius politicians will do the wrong thing.

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