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Friday, October 3, 2008

Protectionism for Wall Street

My October 3, 2008 Washington Examiner column explains what the Wall Street bailout is really about.

I guess we only call it protectionism when it’s men in hardhats who are at risk of losing jobs. When it’s men in pinstriped suits worried that their industry might dry up, we call it “stabilization.”

Protectionism is the right word for the bailout the House is voting on today. Without a bailout, we are told by the people who got us into this mess, the entire economy would melt down. Pittsburgh steel workers also told us that without a domestic steel industry, all of America would suffer.

Read the whole thing here.

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