Wipe the haze from your eyes, my dear friends.

The AIG bonus ‘outrage’ is a manufactured crisis. This wouldn’t have happened if they hadn’t rammed through the stimulus package. Who created the stimulus?  Pelosi/Dodd/Frank. Who created the urgency to pass it? The Democrats. [YES, including Hank Paulson, who is a Democrat and negotiated with Tim Geithner the original bailout the week of September 11th last year].

Quote of the Week

“All of this reads as if yanked from an Ayn Rand novel. The government, in a desperate attempt to avoid political pain caused by its own foolish economic mistakes and lax oversight, has poured billions into bankrupt companies. Then when those companies pass out bonuses they claim are necessary to retain qualified workers, the political firestorm leads government officials to propose tax rates that would make even British socialists of a half century ago blush. We are slipping into debates that have nothing to do with a free economy and everything to do with the government calibrating how to balance the favors it hands out with the inevitable moral outrage those favors engender.”

~Wall Street Journal columnist John Fund