Government promises all sorts of things, but its plans never work. There's no reason to think a federal government plan to "save" an incredibly complex financial system from collapse will work as planned any more than those Soviet five-year plans worked as predicted. No one's plan works as planned, whether the planner works in the private sector or the public sector. But in the private sector, private money is at risk, whereas government officials have coercive power and your money.
Well, it's that darn OPM addiction!
RELATED POST: "This isn't capitalism. This is a peculiar kind of corporatist socialism."
UPDATE: Fabulous cartoon!
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