Question: What happens if you lose vast amounts of other people's money?
Answer: You get a big gift from the federal government -- but the president says some very harsh things about you before forking over the cash.
Am I being unfair? I hope so. But right now that's what seems to be happening.
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This is a good Krugman column. He looks behind the smoke and mirrors in the administration and focuses on the actualities of the bailout being contemplated. If the taxpayers socialize the risks of these bad bank managers, then we should have ownership in return.
Not my favorite. Krugman is just going through the motions of outrage here, and he doesn't back it up with historical or even current day context. How have other bailouts worked. Could there be a legit explanation for this?
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