Saturday, April 3, 2010

Department of Bad Ideas

Michael Barone hates the moral hazard [via RCP]:
I think as a matter of both policy and politics, Republicans ought to oppose the Dodd bill’s provisions that effectively grant Too Big To Fail status to a handful of financial institutions (and perhaps to other companies, Wallison has argued). They should oppose giving preferred status to the very largest firms as compared to smaller competitors. They should be prepared to argue that the Democratic bill gives vast advantages to firms whose employees have gotten huge compensation (and who, as it happens, tend to give more money to Democrats than Republicans). The cry should be, no favor to the big Wall Street fat cats. Mainstream media is unlikely to transmit this message but, as we have seen in the health care debate, messages can get through without them.

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