Just as many Congressmen have said (we do not have to take them at their face value) that they would have voted differently had they known all the facts, I wonder whether those who are opposed to taxing the 1% will also change their views or at least put primary importance on curbing rent-seeking, after reading this report. It is a long one but well worth a read.
It is one thing to lend freely in crisis (the Bagehot principle) but it is another thing to lie about it and another thing to offer that for free without any conditions or penal rates of interest. Paulson, Geithner and Bernanke, step forward and take a bow. They should erect statues for the three of them in all Wall Street banks.