Friday, October 24, 2008

Favorite Quote on the Bailout

I've read a lot about the bailout, but by far my favorite quote is this from Ron Hart:

Is there better irony than an imprudent Washington "investing" about a trillion dollars of debt funded tax money into the banking system and telling them how to run a business?

The same federal government confiscated the Mustang Ranch bordello in Nevada in the 90s and then promptly ran it into bankruptcy. If the feds cannot make a profit in a monopoly business of selling sex and booze, my guess is the complexities of banking will totally perplex them—especially when they have to follow the convoluted regulations they themselves impose.

HT Reason

1 comment:

Anonymous said...

Hart is one of the finest writers working today. He is smart, witty and gets it.