New World

[koganbot]

Vast Bailout by U.S. Proposed in Bid to Stem Financial Crisis

I don't have anything in particular to say about this, other than that my mouth is hanging open.

Comments

[braisedbywolves.livejournal.com]

It turns out that if there's one thing the markets like, it's socialism!

[koganbot]

Floyd Norris says:

If these nationalizations smack of socialism, it is closer to the Marxism of Groucho than of Karl.

[koganbot]

More Floyd Norris ("Bailout Nation"):

Calling it insurance is a great idea. Think of the suffering that could have been avoided in New Orleans if the government had offered retroactive flood insurance after Katrina hit.

[skyecaptain.livejournal.com]

Actually, in my mock Senate class in college, which I was in right when Katrina hit, we did just that. It was a compromise based on actual proposals and passed unanimously with no substantial debate and much mutual back-patting. It felt so wrong, it felt so right.