10 hours ago
Tuesday, September 23, 2008
About That Financial Crisis . . .
I know that all the cooler heads will prevail and that the grown-ups are in charge and that the people who actually understand the intricacies of our financial markets will surely figure out the best course of action for our nation and our economy. If my time in Washington has taught me anything, it's that when great minds such as Barney Frank and George Bush come together, only good things can happen.
But while we're waiting for the big fix, you'll excuse just a moment of small-minded exasperation at the idea that a non-trivial amount of taxpayer money is about to be used not to build highways or kill jihadists, but to clean up the mess made by people who've been (transparently) peddling snake oil for the last five or ten years.
Is no one ever held accountable for their actions?
Update: Here's Kevin Hassett, co-author of the above book, explaining how incredibly simple the entire situation is. I'm certain you're as reassured as I am.