Ambinder, in a post worth reading in full, argues that calling it a 'bailout' was the first mistake:
The
failure of the bailout is being interpreted in some quarters as a
Jacksonian-style triumph of democracy over the know-better decisions of
the technocratic elite - Main Street's whims over Wall Street's needs.
And yet, this isn't really true. When
described as a "bailout," the public opposes it. When the principles of
the bill are described without using the word "bailout," they support
it...
This was a failure of presentation and explanation as much as anything else. The blame for that rests squarely on the man described by Paul Begala yesterday as a high-functioning moron.
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