. . . but I’m a little surprised to see the joy in the comments here over the defeat of the bailout.
This one is splitting conservatives. Michelle Malkin is 100% against the bailout. But there are some dissenters, including Allahpundit:
Explain to me why the risk of letting this thing go off and start a global economic meltdown is better than at least trying to defuse it.
We are in trouble. There is a chance that a crisis will not lead to a vicious-circle deleveraging and halt to a lot of economic activity, but the odds that it will seem much greater.
I’m a free market guy. And I’m a believer that government involvement generally has unintended consequences.
At the same time, without government action, this could be really, really ugly.
Again, I feel essentially unqualified to have a firm opinion. But I’m surprised at how many people in the comments here seem to be utterly confident in their opinion that the bailout is definitely the wrong thing. You might be right. But you also might be horribly, horribly wrong.