There is a Bloomberg story today quoting a Glenn Reynolds at a company called CreditSights, Inc. (no relation to the Instapundit who gets the h/t). Reynolds says, "The powers that be will not face any major constituency risks by screwing some mutual funds, insurance companies, pension managers, and hedge funds (who often manage pension and endowment money etc.) out of their fair and equitable treatment."
For the class warfare spectator, putting the screws to the evil capitalist must seem like a reason to cheer. But when they are gone, when they have quit or fled, and we have only an agency run by bureaucrats left in place of a dynamic market, who is going to make an economy?
It is like watching the proverbial slow-motion train wreck on the way to Galtsville.
