On the Bailout

Well, it was an interesting week on Wall Street. Things were not nearly as bad as a 504 point loss would indicate, and they are not nearly as good as the gains of the last two days indicate. That said, the Administration's plan to stop the death by a thousand pinpricks (picking which companies would go under one at a time) with bold, sweeping action is a good start.

Yes, this entire thing goes against my libertarian, free market impulses. That said, our markets are not completely free, nor are those of our competitors. Government intervention and regulation is sometimes necessary to ensure fairness and confidence. Watching our economy implode in contagion while spouting free market support is not an effective way to govern. President Bush's team is a group of fantastically talented public servants, and they are doing a superb job in trying to attack what was some thing that could (and can) hobble our economy for decades.