Mises.org has released an interesting Bailout Reader of articles and other literature relating to the current ‘financial crisis’ in the US. It basically says ‘Ha! Look how clever we were predicting this; and look at the theory that we refer to when we predicted this because it has some interesting things to say about the proposed solution too’.
I’m paraphrasing – but it sounds about as arrogant as that. But you can sound arrogant irrespective of whether you are right or wrong. I recommend reading a few of the articles and core literature because I think they are right.
What I don’t really understand is why it’s the corporations that need to be bailed out. If you look at the bill itself its purpose is to save home values, collage funds, etc. But these things can be saved more directly. I don’t see why, in the scenario where somebody can’t afford to pay their mortgage, we give money not to the person who doesn’t have the money but to the bank that gets the house but can’t sell it for the full value!?!?