Categorical Aperitif

Yesterday's Democracy Now! with Bernie Sanders, Dean Baker, and Robert Scheer is one of the best segments I've yet heard on the Paulson-ChimpCo bailout swindle:

DEAN BAKER: Yeah, well, as I said, this is really just an incredible—we want it to be punitive. If Henry Paulson doesn’t want it to be punitive, that’s telling us, from the word go, he is not the guy to run this. This is not supposed to be a giveaway. You know, these are the richest people in the whole country. And if it’s not punitive, what we’re telling them is just, you know, “Go out, run your banks in a reckless manner”—because that’s what they did; they wouldn’t be here if they didn’t run their banks in a reckless manner—“pay yourself $30, $40, $50 million a year in compensation. Then, when you get in trouble, go running to the government, and we’ll just hand you hundreds of billions of more.”

If this isn’t punitive, if this isn’t really painful for them to come to the government, then we’ve messed up with the bailout. They don’t have to do it. Again, you know, if your business is good, if you could get by without the bailout, wonderful, don’t come talk to us, don’t—you don’t need the money. But if you’re going to get a handout, it’s going to be punitive. That’s the way it’s supposed to be.

Punitive. Democrats, learn that word. Repeat it often. Meanwhile, the Krugmeister points out that Paulson has already been caught lying about his own plan. The other words of the day? Equity stake. Mmmmm.