“Two chief executives with much on the line in the furor over Wall Street bonuses — President Obama and Edward M. Liddy of the American International Group — made concerted efforts on Wednesday to tamp down the populist anger, but faced continued outrage on Capitol Hill and elsewhere.” (New York Times, Thursday)
Oh what a tangled web we sprout when first we practice to bail out.
FEE Timely Classic
“Toward an Austrian Critique of Governmental Economic Policy” by Israel M. Kirzner