My friend John Tamny has a new article at Real Clear Markets called The Bankrupting of Henry Paulson. Suffice it to say John is not happy with the Hammer:

So while Paulson and politicians generally will say bank bailouts are a necessity, be very wary. If you didn’t like the end result of government subsidization of the housing sector, just think how you’ll feel once the preferred owner of banking shares imposes its “compassionate” ideology on other parts of the economy.

John’s a clear thinker. Read the whole thing.