The Corner

The Paulson Program

I commend to you today Jonah’s very important column on this week’s turn in the bailout. I was a supporter of some sort of radical intervention to ease the credit crisis, but that doesn’t mean that all of this isn’t deeply unsettling. You basically have the government telling banks, “We’re here to help you whether you like it or not.” All of this may be necessary, but it has to be undone at the earliest reasonable opportunity. As Jonah warns, the Left will surely be tempted to keep a piece of the banks forevermore. At least we know what part of the post-Bush conservative agenda will have to be–a push to fully privatize the banks.

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