Juris Vodcast

The President’s new budget for 2010 is obscene. Half of it will be borrowed money, and an unconscionable amount of money is about to be wasted on violence and on socializing private losses of shareholders and bondholders.  It’s a disaster.

Everybody agrees that the banking system is in trouble. The incoming Obama team and some European governments want to take toxic assets off of private bank balance sheets. This will be incredibly expensive and there’s no reason to think it has much chance of success.

There’s no reason to save a corrupt, failed system. [...]