Hypocrisy and Politics

WSJ’s “developing news” headline right now:

Fed Chairman Ben Bernanke tells PBS town-hall forum that he’s “disgusted” by bailouts of institutions deemed too big to fail.

I adore Ben Bernanke—I even helped host him at Cato’s Monetary Policy conference two years ago.  But he endorsed then-candidate Obama when BHO was running in part on this (awful) bailout platform.

So, um . . . you only like bail-outs when you’re angling for a cabinet position? Keep it together, Ben.  Politicians may have a short memory, but investors don’t easily forget.

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