JohnL

Obama's Economic Fix

"The public will hate it. They won’t understand it - neither will I, but that won’t stop me from writing about it – but they will hate it."

Perhaps the public understands the fundamentals of the bailout scheme better than the politicians, economists and mainstream media: the plan is an unconstitutional transfer of their wealth to the financial elite. That is why they hate it. And if nobody understands the plan, that may reflect weakness in its theoretical justification.