Other Bloggers on the Bailout Plan

Here’s a sampling of what others are saying about the plan to bailout lending institutions:

• Real Time Investigations points out that many of the key Congressional leaders, including Barney Frank, have their fingers in the pie.  Hmm. . .
• Godfather at The Slow Bleed explains that you cannot just print more money to make up for a shortfall, which is most likely what the Federal Reserve board and the Treasury Department will do.  He also thinks that also thinks that the executives who failed should get absolutely nothing in severance pay if they are fired. 
• American Elephant at American Elephants sees a pattern building whenever Democrats regulate an industry:  a financial bailout is soon to follow.   
• Jay Burns at All In says that the United States has a serious problem and needs to be kept away from the ATM.  In other words, we’ve gotten ourselves into a whole and we need to stop going back to the cash machine (that is, the taxpayers).
• The owner of A Mommy’s Story suggests taking the bailout money and giving it in equal shares to the American people.  She figures that they can all get out of debt and then stimulate the economy by saving, buying or investing with the rest.
• Lou Cabron at 10 Zen Monkeys lists the 25 Harshest Reactions to the bailout plan.  My favorite one is from Robert Reich:  “If you think the Bailout of All Bailouts…won’t saddle American taxpayers with billions, if not trillions, of risky obligations, you don’t know politics… Never before in the history of American capitalism has so much been asked of so many for…so few.”  The funniest one (if you like black humor) is from Jon Stewart:  “For anybody out there living in cave, let me just say this. Congratulations. You’ve apparently made the soundest real estate investment possible.”
• Arnold Kling at EconLog presents a four-point case against the bailout.  His best point is that the plan blends the finance industry with the government, which is what got us into this mess into the first place.