Steyn on AIG bailout

http://corner.nationalreview.com/post/?q=OTFkMDQyODgyODU2ZGYzYzg0OTI3NmNhMGFiOWYzMjc=

The old line on imprudent debt went something like: If you owe the bank a thousand dollars, you have a problem; if you owe the bank a million dollars, the bank has a problem. We seem to have casually accepted the extension of the paradigm: If the bank loans you a million dollars, the bank has a problem. If the bank loans you a billion dollars, the US government has a problem. But why? Short-term "turmoil" (ie, change and opportunity) in the markets would seem preferable to Washington buying a junk portfolio for every federal taxpayer.