The New York Times needs to read what the Cato Institute has said regarding the bailouts before noting that they were quiet on the subject.  David Boaz sets them straight.

Meanwhile, Veronique de Rugy points out that bailout reciept involves rent dissipation, just like everything else that goes through Washington.  This doesn’t reach the full dissipation rate that you would see in certain sectors, but give it time.  As Gordon Tullock might point out, there’s plenty of time for fuller dissipation…


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