So says
Michelle Malkin about the Mother
of All Bail-Outs, adding:
I have had it with Pollyanna conservatives who continue
to parrot the "fundamentals of the market are great!" line.
The fundamentals of the market suck. The fundamentals of capitalism
have been sabotaged.
Many of my libertarian friends bear a deep resentment toward
Michelle Malkin -- mostly because of Bush and the war, both of
which the libertarians loathe -- but it should be remembered that
Malkin's big break was winning the 1995 Warren Brookes
Fellowship from the libertarian Competitive Enterprise
Institute. (The Brookes Fellowship was more recently held by Jeremy
Lott and is currently held by Lene Johansen.) There are times when
Malkin's inner libertarian speaks loudly, and this is one of
them.
As to the MOABO, she's absolutely right, of course. Wall Street
has essentially blackmailed U.S. taxpayers into footing the bill
for managerial greed, ineptitude and corruption. The alternative to
the bailout is economic collapse, yet there's no prospect of
recouping the millions collected by the executives who were
(over)paid to run these institutions into bankruptcy. They reap the
profits, taxpayers absorb the losses.
And what "reforms" are proposed to solve the inevitable problems
caused by bad regulations, subsidies and corporate welfare? More of
the same. Lather, rinse, repeat.
topics:
Conservatism
