…that Congress caused the financial crisis. And they seem determined to continue (completely leaving Fannie and Freddie out of the new legislation).
[Update a while later]
Some thoughts on popping bubbles and the demonization of short sellers by clueless politicians.
[Update mid afternoon]
Don’t know what happened to the second link above — it was working when I put it up.
Meanwhile, Matt Welch points out that we are out of money. Or more precisely, we are out of other peoples’ money, which is, as Lady Thatcher famously pointed out the point at which socialism quits working.