I am struck by how bitterly some commentators have
taken the House vote against the bailout. The elite, including many
conservatives, are appalled that House members would listen to
their constituents rather than their betters. The title of
Chistopher Lasch's book, The Revolt of the Elites, comes
to mind, to characterize the feelings of the jilted establishment.
David Brooks must be horrified.
And let us recognize above all the 228 who voted no -
the authors of this revolt of the nihilists. They showed the world
how much they detest their own leaders and the collected expertise
of the Treasury and Fed. They did the momentarily popular thing,
and if the country slides into a deep recession, they will have the
time and leisure to watch public opinion shift against
them.