I Heartily Concur: John Cochrane

Too depressed after last night, when the Cubs lost and Sarah Palin didn't, to write up either my evening watching Grant Achatz or the cool new piece of software I've been playing with. Hope to get to both of those next week.

(UPDATE: Friends have pointed out that, in fact, a consensus is forming that while Palin exceeded expectations, she didn't win. So that's good. I'm waiting for a similar article to appear about the Cubs game.)

In the meantime here's a long, involved, and well-written article arguing against the bailout. The money quote, from the conclusion (and by "money quote" I mean "quote that agrees with exactly what I think but haven't been able to articulate"):

"Yes, we need to do something. But 'doing something' that will not work — with potentially dire consequences — is not the right course, especially when sensible and well-understood options remain."

John Cochrane on Why the Bailout Plan Would Be a Disaster