This is a terrific piece by Gary Wolfram of Hillsdale College, writing in the journal of the Business and Media Institute. It captures so much of why so many of us are appalled at this Year of the Bailouts. Short version: Where is the recognition that Paulson and Bernanke are actually constrained by understandable laws? Right now, nowhere.
I particularly like the James Madison quote early on.
Read this column!
