Thursday, March 19, 2009

Letting the Contempt Show

Steve Pearlstein of The Washington Post evidently got his bailout talking points today:

There's nothing remotely fair about using taxpayer money to rescue a free-market financial system from the mistakes of the financiers. But the reality is that we can punish the bankers or we can save the banking system, but we can't do both at the same time.

Philo-Junius invites Mr. Pearlstein to demonstrate this contention which, despite being noticeably repeated by many usual suspects of the media establishment, has never actually been proven.

The key to every con is to appeal to the mark's fear or greed and force them to make a quick, unthinking decision. Pearlstein and his ilk are merely running the same racket.