Friday, April 24, 2009

The ususal Doublethink...

Megan McArdle:
"I think it's very clear what the implications are: if you take the King's Shilling, the King gets to micromanage your life. Nor do I see what good it will do to have Treasury clarify its statement. The government is no longer capable of making a credible committment to keep its hands of firms that participate. If the voters decide that you make too much money, Congress will move heaven and earth to take that money away from you, plus some extra money, and maybe they'll deny you permission to build that bathroom addition, too. They also reserve the right to tell you how to run your company."

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