Monday, September 29, 2008
One of the lies involved in the Wall Street bailout -- and there are many, including the claim that the credit markets are frozen -- is that the taxpayers will recoup the losses and even turn a profit. The biggest lie there is not financial but political. Even if there are gains, they will not go to the taxpayers but rather to the government. For some strange reason, this distinction is lost on virtually everyone, especially the news media.