Bailout Blarney

Regarding the original bailout, former Mayor Ed Koch exclaims, "We were had!" He writes,

"I find it incredible that this is happening and no one is calling foul. Where are all the hotshots who supported Paulson in his psyching us all out by conveying that if we did not follow his plan, we would find ourselves in another Great Depression? Why aren't they at the very least denouncing what is now happening? We are keeping alive, in addition to banks, other institutions that have done a terrible job and were greedy. Those companies should be permitted to declare bankruptcy so that someone in the private sector can buy them at a discount, if they are worth purchasing. Everyone is lining up to get their federal handout."

Also, shouldn't the people at AIG be arrested, for going on not one but two obscenely expensive post-bailout spa junkets? If anyone deserves a perp walk, it's them!