We Are Very Concerned About the Anger We’re Fomenting, by Matt Welch (Reason: Hit & Run):
I suspect that what the administration might really be worried about is that there’s a glaring contradiction at the intersection of its messaging and policy. Officials talk like they’re really gonna stick it to AIG this time, then they ladle out another $20 billion. You want to punish a banker or a Wall Street executive? Let his company fail. And if he’s broken the law, prosecute him.
“Penny-wise, pound-foolish” comes to mind. But whereas there were 240 pence in the old pound, it is pretty sad that the “penny” of this story – $165 million – is much less than 1/240 of the $85 billion that has been handed to them already, and unfortunately, not likely the last.
