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Monday, September 22, 2008

Bailout Bakhshish

As there is testimony to the fact that $7 billion of Iraq reconstruction funds have been misapplied, lost, or merely absconded with, it is time to try and estimate how much money will be misused in the bailout. How often will mortgages the government ends up holding be tampered with, thus increasing the cost to the American people? Pretty often. Three years from now, we'll have testimony before Congress, which will be meeting in John Feltser's barn, down by Antietam. I may hitch up the buggy and sit in.

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