Friday, March 06, 2009

Here's Your Change

Tomorrow's Post includes news of the Treasury Department's trillion-dollar plan to make sweetheart loans to private equity firms to encourage them to buy up high-rated asset-backed securities, drawing the winners from the last years' casino markets back into the game.

Philo-Junius for one would like to be the first to welcome our new private equity overlords--George Soros is presumably at the head of the line. But Philo-Junius cannot help but imagine the rioting in Democratic neighbourhoods had the Bush administration attempted such a breath-taking giveaway. Does anyone still maintain that the Republican Party is the party of the rich?

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