Alan Takes a Shot

As Alan Reynolds observes in the Wall Street Journal, the markets sure seemed to think that Bush's plan was a bailout. Yet Reynolds' editorial doesn't clearly elucidate any obvious transfer. For everyday people to understand this "fix" to be just another corporate welfare bailout, and not an example of big government successfully working successfully, it has to be reduced to a simple black-and-white illustration of government stealing from Peter to pay Paul. Reynolds doesn't really accomplishes that. Of course, the everyday people weren't who Reynolds was writing for in the Wall Street Journal. Has anyone else successfully undertaken the task for a broader outreach? The Snarkmeister wants to know.